Can I Get a Mortgage? What a Broker Actually Tells You

Damian Youell · Senior Mortgage Broker

FCA AR 535515 · Whole of Market · NeedingAdvice.co.uk · Updated April 2026

I want to give you an honest answer rather than a cautious non-answer. Can you get a mortgage in the UK? In the vast majority of cases — yes, you can. But the lender you need, the rate you’ll pay, and the deposit they’ll want from you all depend on your individual circumstances. That’s the part most people get wrong. They walk into their own bank, get told no, and assume it’s game over. It isn’t. What’s actually happened is they’ve asked the wrong lender. The mortgage is still out there — they just need someone to find it.

I’ve been arranging mortgages for clients across the UK for over a decade. In that time I’ve helped first-time buyers scraping together a 5% deposit, self-employed plumbers with two years of messy accounts, people with old CCJs they’d forgotten about, and retirees who were told by their bank they were “too old” to borrow. Every one of those clients got a mortgage. None of it was automatic, and some of it wasn’t easy — but that’s my job. This guide walks you through what lenders actually look at, what trips people up, and what you can do to give yourself the strongest possible chance.

What Lenders Actually Look at When You Apply for a Mortgage

Before I go through the individual bits, it helps to understand what a lender is actually trying to figure out. They’re answering one question: can this person afford to repay this loan for the next 25 or 30 years, even if things go a bit wrong? Everything they check — your income, your outgoings, your credit file, your deposit, the property itself — feeds into that single question. When I’m sat with a new client, one of the first things I do is look at their situation the way a lender would, because that’s how we work out which lender is going to say yes.

Income and Employment

Your income is the foundation. Lenders want to see stable, provable earnings. If you’re employed on a permanent contract, most will want your last three payslips and a P60. Some will accept you from day one in a new job as long as you’ve got a signed contract — others want three to six months of payslips before they’ll look at you. There’s no single rule, which is exactly why the lender you approach matters so much.

I had a client earlier this year who’d just changed jobs into a higher-paying role and was convinced the move had ruined his chances. It hadn’t. We placed him with a lender that accepted his new contract and actually used the higher salary in their affordability calculation. He ended up borrowing more than he would have at his old job. Situations like this come up all the time — if you’ve recently switched roles, have a read of our guide on getting a mortgage after changing jobs.

If you earn overtime, commission, or bonuses, this is where it gets interesting. Different lenders treat additional income in completely different ways. Some will use 100% of your basic plus 50% of your average bonus. Others average everything together. I’ve seen two lenders look at the same payslips and come back with borrowing figures £30,000 apart. That’s not a rounding error — that’s the difference between getting the house you want and falling short.

Outgoings and Affordability

Your income alone doesn’t decide how much you can borrow. Lenders run a detailed affordability assessment that looks at your monthly commitments — credit card minimum payments, personal loans, car finance, childcare costs, even gym memberships and streaming subscriptions if they show up on your bank statements. On top of that, they stress-test your ability to pay at a higher rate, usually somewhere between 6% and 8%, to make sure you could cope if rates went up during your mortgage term.

I’ve had clients earning good money who were surprised at how little they were offered, purely because they had a car on PCP and a couple of credit cards ticking over. In one case, paying off a £6,000 car finance agreement before applying freed up nearly £40,000 of additional borrowing. It’s not glamorous advice, but it works.

Credit History

Your credit report is one of the first things a lender pulls. They want to see that you pay your debts on time, that you’re not maxed out on unsecured borrowing, and that there’s nothing nasty lurking — no CCJs, no defaults, no bankruptcies. But here’s the thing: a less-than-perfect credit file doesn’t automatically mean you can’t get a mortgage. It means you need the right lender. I’ll cover this properly in the bad credit section below.

How Much Can I Borrow?

The rough answer is four to four-and-a-half times your gross annual income. So if you’re earning £40,000, you’re probably looking at somewhere between £160,000 and £180,000. If you’re applying jointly, you combine your incomes — though lenders calculate joint income in slightly different ways. Some multiply the combined figure by a lower multiple, say 3.5x. Others use 4.5x the higher earner’s salary plus the lower earner’s full income. It varies.

There are exceptions. A handful of lenders will stretch to five or even 5.5 times income for certain professional groups — doctors, dentists, solicitors, accountants, and a few others. In 2024, the FCA reminded lenders about flexibility in their stress-testing approach, and since then I’ve noticed some lenders becoming slightly more generous with borrowers who have clean credit and larger deposits. It’s not a sea change, but it’s there if you know where to look.

These are indicative maximums before the lender starts deducting your commitments. Once they factor in your car finance, your credit cards, and whatever else you’ve got running, the actual offer could be lower. For a real figure you’ll need an agreement in principle from a lender — but our calculator can give you a quick starting estimate.

Deposit Requirements — How Much Do You Really Need?

The minimum deposit for a residential mortgage in the UK is 5%. On a £250,000 property, that’s £12,500. There are several high street lenders offering 95% loan-to-value products right now, and I’ve placed plenty of first-time buyers on them. They work. But I always explain to clients that putting down more — if you can — opens up meaningfully better rates and a wider choice of lenders.

The difference in rate between a 95% LTV mortgage and a 75% LTV mortgage can be genuinely significant. In the current market, that gap is often 1% or more, which on a £200,000 mortgage translates to roughly £100 to £130 extra per month. Over a five-year fixed term, that’s potentially £6,000 to £7,800 in additional interest you didn’t need to pay. I always encourage clients to see whether they can stretch to the next LTV bracket — even moving from 90% to 85% makes a noticeable difference. You can read more about how LTV works in our loan-to-value and deposit guides.

If your deposit is a gift from family, that’s fine with most lenders. The person giving the money just needs to sign a declaration confirming it’s a gift, it’s non-repayable, and they’ve got no interest in the property. Some lenders also offer family-assisted products — things like guarantor mortgages or offset arrangements where a parent’s savings are held as security. These can work well for first-time buyers who’ve got the income to make repayments but haven’t managed to save a big deposit yet.

Can I Get a Mortgage With Bad Credit?

This is one of the most common questions I get, and the answer is almost always yes — though the terms, deposit requirements, and available lenders will vary depending on what’s actually on your credit file and when it happened.

I’ve had three clients this year alone with satisfied CCJs who went on to get mortgages. I’ve worked with people who had defaults from five years ago, old debt management plans, and even a client who’d been discharged from bankruptcy and was convinced nobody would touch her. She completed on her house eight weeks later. None of this is automatic, and none of it is easy without the right guidance — but it is far from impossible.

What Actually Counts as Bad Credit?

Lenders aren’t looking at your Experian score and making a vague judgment. They’re looking at the specific entries on your credit file — late payments, defaults, CCJs, IVAs, debt management plans, bankruptcy. Each lender has its own criteria for how it treats each type, and crucially, the age and value of the issue matters enormously. A single missed payment from four years ago on a phone contract is treated completely differently to an unsatisfied CCJ from last year.

In my experience, once adverse credit is more than two to three years old and has been satisfied, a much wider range of lenders opens up. If the issues are recent or still outstanding, specialist lenders — Pepper Money, Kensington, Together — are usually the route. They’ll typically want a bigger deposit, somewhere between 15% and 25%. But they’re used to these cases and they’re set up to handle them. For more detail, I’d recommend reading through our credit problem mortgage guides.

Getting a Mortgage When You’re Self-Employed

Self-employment doesn’t disqualify you from getting a mortgage. Not even close. But it does change what the lender wants to see and how they work out your income. In my experience, the biggest hurdle for self-employed clients isn’t their earnings — it’s not having the right paperwork ready and then approaching the wrong lender.

Most lenders want a minimum of two years’ accounts or SA302 tax calculations from HMRC. Some will accept one year if you were employed in the same industry beforehand. If you’re a sole trader, they’ll typically use your net profit. If you trade through a limited company, most will look at your salary plus dividends — but a growing number of lenders now use the company’s net profit before tax instead. That can make a huge difference if you retain profits in the business rather than drawing them all out.

Contractors are a separate conversation. If you’re an IT contractor — this is the most common group I see — some lenders will calculate your income based on your day rate rather than your tax return. I placed a client last year who was earning £450 a day on a rolling contract. His SA302 showed about £55,000. But the lender I used calculated his income at closer to £100,000 based on his contract rate, and that’s what we used for borrowing. Completely different outcome. Our self-employed mortgage guides cover a range of these scenarios in more detail.

Age, Retirement, and Mortgage Terms

If you’ve been told you’re too old for a mortgage, I’d question where that advice came from. Your age doesn’t prevent you from borrowing — it affects the term length available and how the lender assesses your ability to repay. Most lenders have a maximum age at the end of the mortgage, typically 70 to 75. But an increasing number now go to 80 or even 85, particularly if you can show that pension income or continued earnings will cover the repayments.

I’ve arranged mortgages for several clients in their sixties this year. In each case, the key was evidence of ongoing income — a final salary pension, a drawdown pension, continued part-time work. One couple in their mid-60s wanted to downsize and buy outright, but the timing didn’t work because their existing property hadn’t sold yet. We arranged a short-term mortgage that allowed them to buy, and they repaid the bulk of it once their sale completed. Without a broker, they’d have been told to wait — and the house they wanted would have been gone.

Retirement interest-only (RIO) mortgages are also worth knowing about. These products only require you to pay the interest each month — the capital gets repaid when the property is sold or the borrower passes away. They’re regulated and specifically designed for older borrowers. The market has shifted considerably in recent years, and the assumption that retirement means no mortgage is outdated.

Types of Mortgage Available in the UK

I’ll keep this section practical rather than academic. If you want a deep dive into any of these, we’ve got dedicated guides across the site.

Fixed-Rate Mortgages

Your rate is locked for a set period — usually two, three, five, or ten years. During that period, your monthly payment doesn’t move regardless of what happens with the Bank of England base rate or swap rates. This is by far the most popular choice in the UK, and in most cases I’d say it’s the sensible default. You know exactly what you’re paying every month, and you can budget around it.

Tracker Mortgages

A tracker follows the Bank of England base rate by a set margin — say, base rate plus 0.75%. When the base rate moves, your payment moves with it. If rates fall, you benefit immediately. If they rise, you pay more. Right now, with the base rate sitting at 3.75% and genuine uncertainty about whether the next move is a cut, a hold, or even a hike, choosing a tracker is a bet that requires a fair bit of confidence. I’m not saying don’t do it — I’m saying make sure you understand what you’re signing up for.

Standard Variable Rate

The SVR is your lender’s default rate — it’s what you roll onto when your fixed or tracker deal ends. The average SVR in April 2026 is around 7.15%, which is significantly more expensive than any fixed deal on the market right now. If your current deal is ending soon and you haven’t started looking at your options, you’re about to start paying hundreds of pounds more per month than you need to. I’d strongly recommend starting the remortgage process at least six months before your deal expires — our remortgage advice page explains how it works.

The UK Mortgage Market in April 2026 — What You Need to Know

I want to be transparent about where things stand right now, because the market in April 2026 is genuinely different from where it was even four months ago — and that affects what rate you’ll get and how quickly you need to act.

Through 2025, the picture was broadly positive. The Bank of England cut the base rate four times across the year, bringing it down from 5.25% to 3.75%. Fixed mortgage rates fell steadily, and by December 2025 the most competitive five-year fixes dipped below 4%. There was genuine optimism that we were heading into a period of cheaper borrowing. Then, in early 2026, conflict in the Middle East pushed oil prices above $100 per barrel, and the whole picture shifted. Swap rates — the wholesale rates that underpin fixed mortgage pricing — spiked. Lenders started pulling products and repricing upwards. By late March 2026, over 1,500 mortgage products had been withdrawn from the market.

As I write this in April 2026, things have stabilised a bit. A ceasefire has eased some of the immediate pressure, and several major lenders — HSBC, Halifax, Santander — have started cutting rates modestly. But average rates are still well above where they were before the conflict. The average two-year fixed rate is currently around 5.42%, up from about 4.25% earlier in the year. The average five-year fix sits at roughly 5.37% to 5.75% depending on the source and your LTV. The Bank of England held the base rate at 3.75% in March, and the next decision is due on 30 April 2026. Nobody knows which way it’ll go — and anyone who tells you they do is guessing.

The Mortgage Application Process Step by Step

The process can feel intimidating if you don’t know what to expect. So here’s what actually happens, based on how I manage cases day to day.

Getting Your Documents Together

Before anything else, you need to sort your paperwork. If you’re employed, that’s usually a valid passport or driving licence, your last three payslips, your most recent P60, three months of bank statements showing your salary going in, and proof of your deposit. If you’re self-employed, you’ll need SA302 tax calculations and tax year overviews from HMRC — usually two or three years’ worth — plus business bank statements. Limited company directors will also need accountant-certified accounts. I know it sounds like a lot, but getting it all together upfront is one of the simplest things you can do to speed up the whole process.

Agreement in Principle

Once I know how much you can borrow and which lender fits your profile, we get an agreement in principle. This involves a soft credit search and confirms the lender’s willingness to lend, subject to full underwriting and a satisfactory valuation of the property. Having this in place before you start viewing puts you in a much stronger position when making an offer. Estate agents take you more seriously, and sellers know you’re not wasting their time.

Full Application and Underwriting

Once your offer on a property has been accepted, we submit the full mortgage application. The lender instructs a valuation — this might be a desktop valuation, a drive-by, or an actual physical inspection depending on the lender and the property. An underwriter then goes through your documents properly, checks your credit file in full, verifies your income, and assesses the property against their lending criteria. This stage takes anywhere from a few days to several weeks. I chase actively on behalf of my clients throughout this period, because in my experience delays are usually caused by simple documentation queries that can be sorted quickly if you respond promptly.

Mortgage Offer and Completion

If the lender is satisfied, they issue a formal mortgage offer. Your solicitor then handles the conveyancing — title checks, local authority searches, exchange of contracts — and eventually you reach completion, when the funds are transferred and you pick up the keys. The whole thing typically takes eight to twelve weeks from application to completion. I’ve had straightforward cases complete in four.

Why Using a Whole-of-Market Broker Matters

I appreciate that this is self-serving advice, but I mean it sincerely. The UK mortgage market has over 7,000 products from more than 90 lenders. Your bank can only offer you its own products. That’s a bit like walking into one shop in a retail park with ninety shops and buying whatever’s on the shelf without checking whether the place next door has something better and cheaper. A whole-of-market broker — like our team at NeedingAdvice.co.uk — searches across every lender to find the product that actually fits your situation.

This matters even more if your case has any complexity — self-employment, adverse credit, a non-standard property, income from bonuses or overtime, or anything else that doesn’t fit neatly into a high street bank’s standard criteria. Beyond finding the right product, a broker manages the whole application for you. We prepare your documents, liaise with the underwriter, chase progress, handle conditions, and make sure nothing falls through the cracks. I’ve had cases where the difference between a broker-managed application and a direct application was the difference between getting a mortgage and not getting one — not because of the borrower, but because the broker knew which lender to approach and how to present the case properly.

Frequently Asked Questions

Can I get a mortgage with no deposit?

True 100% mortgages — where you borrow the entire purchase price — are extremely rare in the UK right now. But there are products that effectively get you there by using a family member’s savings or property as security. Guarantor mortgages and family-assisted schemes from a small number of lenders can work for this. Otherwise, the minimum deposit is 5%. If saving is the main barrier, look into the Lifetime ISA (25% government bonus on up to £4,000 a year toward your first home) and Shared Ownership (buy a share of a property, usually 25–75%, and pay rent on the rest).

Can I get a mortgage on benefits?

Some lenders will accept certain benefits as income — Universal Credit, Disability Living Allowance, PIP, child benefit, and tax credits can all be considered depending on the lender. Not every lender accepts benefits income, and those that do often want it supplemented by some level of employment income. This is one of those areas where knowing which lender to ask makes all the difference. We’ve got a full guide on mortgages while receiving benefits that covers the specifics.

How long does a mortgage application take?

From submitting a full application to receiving a formal mortgage offer, usually two to four weeks. The overall process from first enquiry through to completion and getting keys in your hand typically takes eight to twelve weeks. Having your documents ready beforehand and responding quickly to any lender queries speeds things up considerably.

What’s the minimum income to get a mortgage?

There’s no universal minimum, but in practice most lenders have a floor of around £15,000 to £25,000 in annual income, and many products have a minimum loan size that effectively sets an income requirement. What matters is whether your income — whatever its source — is enough to pass the lender’s affordability assessment, including the stress test at a higher rate.

Can I get a mortgage after recently changing jobs?

Usually, yes. Some lenders will accept you from day one in a new role if you’ve got a signed employment contract. Others prefer to see three months of payslips. Staying in the same industry and moving to a higher salary generally makes lenders more comfortable. The key is choosing the right lender for your situation — and that’s where a broker earns their keep. I’ve written a more detailed piece on getting a mortgage after changing jobs if you’re in this position right now.

Should I fix my mortgage rate right now?

I can’t answer that definitively because nobody — including me — can predict where rates are heading. What I can say is that fixing gives you certainty over your monthly payments for the length of the deal. In the current environment, where the next base rate decision could go in any direction and geopolitical uncertainty has pushed swap rates around, I think that certainty has real value for most people. If you’re weighing this up, have a read of our article on whether to fix your mortgage now.

Can a non-UK national get a mortgage in the UK?

Yes. If you’re living and working in the UK with settled status, a work visa, or indefinite leave to remain, you can apply with most mainstream lenders. The process is broadly the same as for a UK national, though you may need additional documentation confirming your immigration status. Non-residents buying from abroad have a more limited range of lenders and usually need a larger deposit of 25% to 40%. Our team handles applications from non-UK nationals regularly — you can find more information in our non-standard residency mortgage guides.

About the Author

Damian Youell

Senior Mortgage Broker & Company Director

10+ Years' Experience Whole of Market Complex Cases 560+ Reviews

Damian is the founder of NeedingAdvice.co.uk and the firm’s Senior Mortgage Broker. He specialises in helping clients across the UK with straightforward and complex mortgage cases, including self-employed applications, adverse credit, buy-to-let, remortgages and first-time buyer mortgages.

Alongside mortgage advice, Damian also supports business owners with protection planning, including Relevant Life Policies, Shareholder Protection and Keyperson Cover.

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