How to Improve Your Affordability Before Applying

Want to boost what you can borrow? Follow this practical plan to improve your mortgage affordability before you apply.

Many first-time buyers worry they are stuck with whatever a lender offers. The good news is that you can influence the outcome. Improving affordability is not about tricks — it is about showing lenders you can handle the commitment.

With the right plan, you can increase your borrowing potential and move closer to the home you want.

Why affordability matters

Lenders do not just look at your salary. They want to see that your lifestyle and spending leave room for mortgage payments. Strong affordability gives them confidence. It also increases your chances of securing a better deal.

Step 1. Review your outgoings

Download the last three months of bank statements. Mark each payment as essential or non-essential. Cancel unused subscriptions, trim extras, and aim for steady, predictable spending.

Step 2. Reduce or clear debts

Every monthly repayment reduces your affordability. Clearing a loan or credit card can free up space in your budget. Focus on debts with the highest repayments first. Avoid taking on new finance until after completion.

Step 3. Lower unused credit card limits

High limits are seen as potential debt. Even if your balance is zero, lenders assume you could use it. Ask your provider to reduce limits you do not need.

Step 4. Plan for childcare and known changes

If nursery costs are due to fall, keep written proof. A broker can present this clearly to a lender. This ensures your future budget is taken into account, not just today’s numbers.

Step 5. Present income clearly

Have payslips, P60s, or self-employed accounts ready. If you earn overtime, commission, or bonuses, gather records that show a consistent pattern. Clear evidence helps lenders use more of your income in their calculations.

Step 6. Build your safety net

Lenders like to see stability. Having some savings alongside your deposit shows that you can handle unexpected costs. It also protects you if things change after you buy.

Step 7. Choose the right lender

Policies differ widely. Some accept overtime and bonuses, others do not. Some are more flexible on childcare or self-employed income. Matching with the right lender is often the difference between a lower offer and the maximum you can achieve.

A 90-day action plan

• Weeks 1–4: Cancel unused subscriptions, reduce limits, tidy spending.
• Weeks 5–8: Clear or reduce debts, gather documents, stabilise bank statements.
• Weeks 9–12: Final review with a broker, choose the right lender, apply with confidence.

The Bottom Line

You do not need to change your whole life to improve affordability. Small, simple steps make a big difference. If you want to see exactly how your situation could improve, we can build a tailored plan together.

Your home may be repossessed if you do not keep up repayments on your mortgage or other loan secured against it.

• How long should I prepare before applying?

  Three to six months gives you time to tidy spending and let changes show in your statements.

• Should I close old credit cards?

  Closing unused cards or lowering limits can help, but keep at least one account for your credit history.

• Can paying off a small loan really increase borrowing?

  Yes. Reducing a £100 monthly repayment can raise the amount a lender is willing to offer.