Your Mortgage Moves Matter

Getting a home loan isn’t just about applying and hoping for the best. What you do before you apply—and even while you’re house hunting—can make or break your chances of getting approved (or getting the best rate).

Here’s what you need to know to set yourself up for success.

What TO Do Before Applying for a Home Loan

✅ Get Pre-Approval First

Before you even start seriously looking at homes, know your borrowing power. Pre-approval gives you a clear budget and shows sellers you’re a serious buyer.

✅ Keep Your Finances Steady

Lenders want to see stability. If you’re about to apply for a loan, now’s NOT the time to:

• Switch jobs
• Start a new business
• Take extended time off work

Consistency is key.

✅ Check Your Credit Rating

Before applying, request a copy of your credit report and fix any issues. Pay off outstanding debts and keep your credit card balances low.

✅ Get Professional Mortgage Advice

A good broker can help you understand your options, explain different loan types, and find a lender that suits your situation. They’ll also help you avoid common traps. I recommend people talking to two different brokers as they will have differing ideas on loan set ups but can also get different rates through the banks.

✅ Start Budgeting Like a Homeowner

Lenders will look at your spending. Show them you’re already managing your money like someone who’s ready for a mortgage. That means:

• Saving regularly
• Living within your means
• Avoiding big unnecessary purchases
• Putting the money aside for the mortgage payments, rates, insurance etc.

What NOT to Do Before Buying a Home

❌ Don’t Apply for New Credit

No new credit cards, car loans, or buy-now-pay-later accounts. These can hurt your borrowing capacity and flag risk to lenders.

❌ Don’t Make Big Purchases

Thinking of buying a car or going on holiday? Bad move. Keep your spending conservative until your loan is fully approved and settled.

❌ Don’t Forget to Factor in Upfront Costs

Your deposit isn’t the only thing you’ll need. Don’t overlook:

• Stamp duty
• Legal and conveyancing fees
• Inspections
• Moving costs
• Contingencies
• Insurance

❌ Don’t Assume You’ll Be Approved

Even if you’ve spoken to a bank or broker, nothing is guaranteed until your finance is formally approved. If you have had a promotion in your job – check that there is no probation period as this can affect your finance approval as they see it as you having a new job even if you are still with the same company.

Preparation Pays Off

Getting mortgage-ready is about more than saving a deposit. Your financial behaviour in the months leading up to applying matters just as much.

With the right advice, a bit of discipline, and a solid plan, you’ll be in a strong position to buy with confidence—and avoid any nasty surprises along the way.

👉 Want to feel confident and prepared before you buy? Property Uncut gives you the knowledge and tools to buy smart.