Will I Be Able To Get A Mortgage?

The question that many potential first time buyers wonder is this "will I be able to get a mortgage?" - and many of them are not too positive about what the answer will be.

We've all heard stories about how daunting the process can be, particularly in the current climate, where banks are naturally more cautious about who they lend to after the lessons that have been learned over the last few years.

Well remember - the only way to find out is to do your research, and then to apply. Although it sounds scary, it is quite clear when reading the information provided by mortgage providers the maximum amount they will lend based on your income, and also what sort of deposit you will need - for instance this is typically 10% but it can vary. And remember there may also be other conditions attached to a mortgage, so be careful to read all the smallprint around the mortgage you are thinking of applying for, so that you have the best chance.

Also remember that you can usually sit down with a personal banker or mortgage adviser in your bank and discuss your options before it comes to the application process - they will be able to guide you through the various considerations you need to think about, and perhaps help you find the right mortgage for you - as well as giving an indication of whether you are likely to be approved for that product and, if not, what you need to do. Remember that there is no cost charged for this with high street banks and the main mortgage lending building societies, so do take advantage of picking the brains of someone who works in the mortgage sector day in day out. It is quite possible that there may be options that you haven't even considered that would be suitable for you, or at least give you some light at the end of the daunting tunnel that seems to arise when people ask "can I get a mortgage?"

And remember - if you think that you'll never be able to get that deposit - then just keep on plugging away and persevere. Make sure you are saving as much as you possibly can and perhaps even consider if you are able to generate an extra income in addition to that which comes from your main job. Where there is a will there is a way, and don't give up on your dream of owning your first home!