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So that I can determine your budget and affordability, I will need to see your latest 3 months payslips plus your latest P60. You should also provide details of any debt you have which may or may not include credit cards, loans, hire-purchase agreements and existing mortgages including buy to lets. It’s useful to bring along your latest 3 months bank statements so that we can accurately determine your maximum monthly budget. Proof of your name and current address will also be required, such as the latest council tax bill or utility bill. This is just the basic information, and the lender may require additional information later down the line.

This depends on the complexity of your situation and if you’re looking for a new mortgage loan or remortgage, for example, someone with impaired credit may take longer to obtain a mortgage agreement. It also depends on the lenders service standards and turnaround times. On average, it can take around 2 weeks from application submission to receiving an offer.

The amount you can borrow is dependent on a few factors, but the main one is affordability, which can vary between lenders. The mortgage lender will need to know your income, which you can prove in the form of payslips or self-employed accounts. Most lenders will also include state benefits as income such as child benefit, working tax credits and child tax credits which can help with affordability. If you have any existing commitments such as debts like credit cards or loans for example, these will have to be taken into account along with how many dependents you have.

Just because you have an impaired credit history doesn’t mean you can’t get a mortgage. Ultimately it depends on what type of impaired credit you have, how long ago it was registered and whether it’s still outstanding. Some lenders are more lenient than others and will be more relaxed, but generally you may only be able to approach specialist lenders rather than the high street ones.  That could mean that the interest rate may be slightly higher, or they may reduce the level of borrowing. An adviser will want to see a copy of your most up-to-date credit score report, such as Experian, in order to provide you with the most accurate advice.

Firstly, you will have an initial chat with your broker to see if they can help. If they can, you’ll have a face to face appointment at a convenient time, which will enable the adviser to provide you with tailored expert advice to suit your circumstances. Once you provide all the necessary documents and the adviser has identified a mortgage product for you, the adviser will then be able to provide you with your Agreement in principle certificate. This is usually valid for 3 months with most lenders and is a tool to help provide evidence that you can proceed when offering against properties on the market.

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