A step-by-step guide to applying for a mortgage

Use our mortgage calculator to see how much you could borrow for a house and understand what your monthly payments could be. Key factors include your:

• Income.
• Spending commitments.
• Credit score.
• Deposit amount.

Planning can help you to get an idea of how much your mortgage could cost before you apply. This process may help in the long term, especially if interest rates rise.

Once you've considered how much you can borrow, think about the type of mortgage that may suit your needs best. Learn more about mortgage rates and types

Define what matters

List the features your dream home should have. Explore must-haves and weigh up compromises.

For example, are these things important?

• Off-street parking.
• A large garden.
• Proximity to a city centre.
• Distance to schools.

Explore your options

• When you know what you want, register with estate agents and start looking on property websites.
• Sign up for email alerts to know when a new property that meets your criteria is listed online.
• Contact the estate agent and book a viewing.

Find out if you could get a mortgage on the property you've seen by getting an Agreement in Principle. It tells you how much we could lend you based on your income, property value, deposit amount and mortgage term.

Our Agreement in Principle:

Provides a personalised indication of how much we could lend you.

Will not impact your credit score as we use a soft credit check.

Takes less than 10 minutes and there is no commitment.

Plus, you can download a certificate to show your estate agent.

Get your Agreement in Principle, see the rates available to you and find out what your monthly payments could be before starting an application.

Tip: Consider organising a home report to check the property when making an offer. This can help to minimise risk and ensure you're paying what it's worth. 

• Call (or go into) the estate agents' office and tell them how much you're willing to offer.
• Provide the estate agent with an indication of where the money will come from.
• Inform them how quickly you can proceed with the purchase.
• The agent will then let the seller know of your offer.
• They will notify you whether your offer is accepted or not. 

The seller may not accept your first offer, but when the seller accepts your offer on the house, it's time to start your mortgage application. 

If you want free mortgage advice, you can apply for a mortgage with Royal Bank either by phone or video call.

If you’d rather choose a mortgage yourself, you can apply for your mortgage online.  However, you won’t benefit from the protection provided by our advised service.

Apply online

When you've received your formal mortgage offer, your solicitor and estate agent will guide you through the final steps of the process for buying the property.

Once your solicitor has done their checks, they'll agree the date for exchanging contracts and completing the purchase with the seller's solicitor. Then, it's time to plan the big move! 

Before applying, it’s helpful to review your credit report so you’re aware of the information lenders may look at when assessing your application. This can help you spot and fix any errors ahead of time. You can view your credit score on our app or if you don’t have the you can use various platforms such as Experian, Equifax or ClearScore

To learn more about how credit scores work and what affects them, take a look at our Understanding your credit score guide.

A passport or driving license are the more commonly used documents for proof of ID but we will accept other forms of ID if you don't have these. You'll also need to make sure these documents are in date.

These can include council tax bills, utility bills, bank statements and should be dated within the last three months.

This is important as lenders will need to see Proof of Deposit to understand where your deposit is coming from.

• If your deposit is from your savings, you’ll need to provide evidence via bank statements and any large payments will need to be explained. The bank statements will also need to show your name and address.
• Gifted mortgage deposits will usually require a signed letter from the person who is gifting you the money. At Royal Bank, we require a signed letter or email (no signature required) from the gifting party, confirming the gift is either non repayable or repayable. 

Find out more about mortgage deposits

Payslips

You may need to provide your latest payslips for us to verify your income. 

Once you have submitted your application, we will confirm what information is required to progress your application.

Bank statements

You might be asked to provide bank statements. We will let you know when you complete your mortgage application and tell you how many months worth of statements we need to see. Make sure it is for your main billing account, and If you have any other income, like benefits, that go into another account, remember to let us see that account as well.

We can also consider letters from managers or the business you work for if you are unable to provide payslips or bank statements.

As well as proof of income, expenses are also needed to ensure that the mortgage loan amount suits your lifestyle and requirements.

Lenders will look for any financial commitments that may have an effect on how much you can afford in relation to your monthly mortgage repayments.

Understanding whether you can obtain a mortgage will involve considering things like:

• Income.
• Size of your deposit.
• Your spending.
• Credit score.

Before you apply for a mortgage, you can use mortgage calculators and get an Agreement in Principle to understand whether you’re eligible.

To help you get approved for a mortgage, you’ll need to ensure you have or can improve your financial position. This work may include building or maintaining:

• A strong credit score.
• A deposit.
• A steady income.

Once you have established this foundation, research what you need to apply for a mortgage. Gather those documents before getting an Agreement in Principle.

You can get an Agreement in Principle before you find a property. But can't get a full mortgage offer until you’ve applied for the mortgage, the property has been valued, and you’ve met lending rules and affordability checks.

A lender will review your financial health by looking at your:

• Income.
• Outgoings.
• Debts.
• Credit history.

A lender will then use the information they have found to confirm whether they’re comfortable offering you a mortgage, and how much they are happy to lend. 

The amount we can lend is based on the information you gave when you completed your Agreement in Principle. We use a soft credit check and look at your income and spending to work out how much you can afford to borrow.

It’s worth checking the details you entered to make sure everything is right. You may also want to try our How much can I borrow? calculator to see if the amount you’re looking to borrow is realistic for your situation.

If needed, you can then think about any changes that could realistically be made. For example, if you only added your own details, you might want to try an Agreement in Principle for two people instead. Adding a second person’s income (and their spending) could help increase the amount you may be able to borrow.

Applying for a new mortgage? Use our Mortgage Rate Finder tool. From there, you can view the range of deals currently available.

Switching your current mortgage with us to a new deal? Log in to Manage your Mortgage and get a personalised quote.

You can add the product fee to your mortgage balance, rather than electing to pay it up front.

However, if you choose to add the product fee to your mortgage, you’ll increase the total amount repayable. This is because we charge interest on the product fee for the full duration of the mortgage term.

Your application can be put on hold for 60 days until you find a new property by contacting our Mortgage Team. If you find a new property within this time, your application can be amended and re-assessed.

When you apply for a new mortgage with us, the offer of loan is valid for six months.

If you need to change any details after you’ve applied, please tell us as soon as you can. We’ll update your application and let you know if the changes affect your mortgage.

If your financial circumstances change after you've applied for a mortgage, tell us as soon as you can. We’ll talk you through the options and may be able to offer an alternative product.

Mortgage underwriting is when a lender checks the details in your application to make sure everything is correct and that you can afford the repayments. They also look at the level of risk in lending to you, following rules set by the Financial Conduct Authority (FCA), to help decide if the mortgage is right and safe for you and the lender.

You’ll get a formal mortgage offer when we’ve received and assessed all the information we need from you. Your property must also achieve a satisfactory valuation report.

Your mortgage offer is sent to you and your solicitor at the same time. Your solicitor’s copy is uploaded to the LMS Conveyancer Zone. If they can’t see it there, please contact our Mortgage Team and we’ll help.

Your mortgage funds will be released on the requested completion date, which your solicitor will inform us of.

As soon as your solicitor receives the mortgage funds, they'll be able to complete the purchase of your new property.