What Can Stop You Getting a Mortgage in the UK?

Applying for a mortgage can feel daunting and the last thing you want is to be turned down. UK lenders have become stricter with their criteria, so it’s worth knowing the common stumbling blocks that could affect your application. Here are the key factors and what can stop you from getting a mortgage approved, and how you can overcome them.

1. A Low or Small Deposit

Most lenders expect at least a 10% deposit, and the best rates often require more. Some lenders may accept 5% if you meet certain conditions. If saving feels impossible, options like gifted deposits from family or government schemes such as Shared Ownership can help. 👉 Not sure how much deposit you’ll need? Speak to a Well Financial adviser for tailored guidance. Book Online | Well Financial 

2. Affordability

Lenders assess whether you can comfortably afford repayments, often capping borrowing at 4.5 - 6.5 times your income. They’ll also stress‑test against living costs and debts. Ways to improve affordability include:

• Boosting income with overtime or side hustles

• Considering a guarantor mortgage

• Reducing debts and monthly spending

• Looking at more affordable properties 👉 Our advisers at Well Financial can help you explore realistic options. Book Online | Well Financial 

3. Bad Credit

Recent or severe issues like bankruptcy or repossession can make lenders cautious. However, not all credit problems are deal‑breakers. Steps to take:

• Correct errors on your credit report

• Work with specialist brokers who understand bad credit cases 👉 Even with past credit challenges, Well Financial can connect you with lenders who may say yes. Book Online | Well Financial 

4. Property Issues

Non‑standard construction or homes in flood‑risk areas can be harder to mortgage. Some lenders may require larger deposits (often 25% or more). 👉 If you’re eyeing a unique property, Well Financial can match you with specialist lenders. Book Online | Well Financial 

5. Failing to Prove Your Income

Self‑employed borrowers and contractors often face challenges when it comes to proving income, but there are multiple ways to present your earnings to a lender. From bank statements and SA302 tax overviews to accountant‑prepared accounts, signed contracts, or invoices, each option can strengthen your case.

⚠️ Doing this incorrectly or ineffectively can have a negative impact on how much you’re able to borrow. That’s why it’s vital to get expert guidance.

👉 Speak to a Well Financial adviser to maximise your borrowing potential and ensure your income is presented in the best possible way to lenders.. Book Online | Well Financial 

Final Thoughts

Getting a mortgage in the UK isn’t always straightforward but knowing what can stop you getting a mortgage means you can prepare. Whether it’s deposit size, affordability, credit history, property type, or income proof, there are solutions available.

👉 Don’t let uncertainty hold you back. Speak to a Well Financial adviser today and take the first confident step toward your new home.Book Online | Well Financial