If you read our last article, then you’ll know that we’re arming those who are thinking of applying for a mortgage in the New Year with a pre-mince piece checklist of things to prepare, so that they’re ahead of the game (and the crowds) when it comes to making a New Year house move.
And when we say pre-mince pie checklist, it simply means a list of things to do before you completely down tools (and tuck into the Christmas food and drink). However, the reality is that you can work on our recommendations AND eat mince pies at the same time, so it’s a win-win really.
Our team of Guildford mortgage advisers are working and available over the Christmas period so if you have any questions about our 10-point checklist – or any mortgage-related questions in general – then simply call one of our mortgage brokers in Guildford on 01483 238280.
So, here are the remaining five things to do before applying for a mortgage in 2026.
6. Key dates
If you’re an existing Complete Mortgages customer, then we’ll know exactly when your current mortgage is due to end – as it’s our job to do so. However, if you’re a new customer, we’ll need these details during the initial consultation so that we know exactly what we’re playing with. Simply find out when your mortgage deal ends, the associated rate and any early repayment charges, and have this information to hand when you speak with us.
7. Get a decision in principle
As highlighted above, we’ll be working throughout Christmas, which leaves you ample time to get a decision in principle (DIP) from a lender. Not only will it give you a sense of what is open to you borrowing-wise, but it’ll give you the edge over those who don’t have one when it comes to speaking with estate agents in January. And, if you are lucky enough to quickly find your next property, then having a DIP in your hand will speed things up.
8. Role play
When it comes to working out what you can afford, it’s very easy to want to borrow all that you can – to push yourself to the absolute limit – in order to create a larger property budget to work from. However, the reality is that it’s safer, not to mention more comfortable, when you’re not sailing too close to the wind. So, give yourself a stress test by questioning a) will buying a more expensive house leave you with zero buffer? b) will you still be able to afford mortgage repayments if you or your partner lost their job? and c) how will a rise in energy prices impact your ability to repay the mortgage? If it’s too much, then it’s too much. A pre-mortgage application sense check may save heartache later down the line.
9. Don’t be budget blind
Although the deposit is the biggest cost, it’s not the only cost. There’s the conveyancing, Stamp Duty (which is usually significant), surveys and removals. Once you’ve factored all that in, you’ll have your actual budget. It’s better to be honest with yourself from the outset, so map out what everything will cost in order to get a real sense of your budget – and how much you’ll need to borrow.
10. Book a January appointment with a mortgage broker
Of course, we had to say that – but it’s true! When Christmas is over, the first thing people think about is moving. You only have to look at Rightmove stats to see that; over 25 million visits on Boxing Day in 2022, for example. So, booking a mortgage consultation in advance is the mortgage equivalent of booking all of 2026’s leave around Bank Holiday’s to maximise your time off – it’s smart. And as our Guildford mortgage brokers say, now that the Budget is over, we expect January to be VERY busy.
Applying for a mortgage in 2026? Contact our team of Surrey mortgage advisers on 01483 238280 or e-mail info@complete-mortgages.co.uk to arrange an initial consultation.
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