Getting Mortgage Ready: What to Do Before You Apply
Getting a mortgage doesn’t start when you find a property — it starts well before that.
Being “mortgage ready” means your finances, documents, and expectations are aligned so that when the time comes, the process is smoother, faster, and far less stressful.
Whether you’re buying your first home, upgrading, or refinancing, here’s how to get mortgage ready with confidence.
Understand Your Starting Point
The first step to getting mortgage ready is understanding where you currently stand.
This includes your income, savings, existing debts, and regular expenses. You don’t need exact figures — a clear overview is enough to start.
Knowing your starting point helps replace guesswork with clarity.
Get Clear on Your Borrowing Comfort Zone
Borrowing capacity and comfort are not the same thing.
While lenders may approve a certain amount, it’s important to know what repayment level feels manageable for your lifestyle — even if interest rates or expenses change.
Mortgage readiness is about sustainability, not stretching to the limit.
Review and Reduce Existing Debts
Credit cards, personal loans, car loans, and buy now pay later facilities all affect borrowing capacity.
Reducing balances, closing unused facilities, or simplifying debts can significantly improve your position.
These small steps often make a big difference.
Build and Organise Your Deposit
Your deposit plays a major role in loan options, interest rates, and overall structure.
Being mortgage ready means knowing:
- How much you’ve saved
- How long you’ve been saving
- Whether any funds are gifts or equity
Clear deposit information makes lender assessment far easier.
Understand Your Spending Patterns
Lenders look closely at living expenses.
Understanding where your money goes — subscriptions, discretionary spending, and fixed costs — helps you prepare for assessment.
You don’t need to be perfect, just aware.
Prepare Key Documents Gradually
You don’t need everything ready on day one, but knowing what’s required helps you stay organised.
This usually includes payslips, bank statements, ID, and loan statements if applicable.
Preparing documents early avoids last-minute pressure.
Understand the Basics of Home Loans
You don’t need to be an expert, but having a basic understanding of loan features helps you make better decisions.
Knowing the difference between fixed and variable loans, offsets, and repayments makes conversations more productive.
Think About Your Short- and Medium-Term Plans
Mortgage readiness isn’t just about now — it’s about what comes next.
Changes in career, family plans, or future upgrades can all influence which loan structure is suitable.
Thinking ahead helps avoid needing to change things too quickly.
Speak to a Broker Earlier Than You Think
One of the best ways to get mortgage ready is to speak to a mortgage broker early.
Early conversations help identify what’s already working well and what could be improved before applying.
There’s no obligation — just clarity.
Why Being Mortgage Ready Matters
Being mortgage ready means fewer surprises, stronger applications, and better decision-making.
It also gives you confidence when the right opportunity comes along.
How Chase Helps You Get Mortgage Ready
Chase Douglas has extensive experience helping clients prepare well before they apply for a mortgage.
Chase focuses on preparation, clear explanations, and helping you understand what steps make sense for your situation — whether you’re ready now or planning ahead.
Ready to Start Getting Mortgage Ready?
You don’t need to have everything figured out to start the conversation.
👉 Book a conversation with Chase Douglas to understand where you stand and what you can do now to prepare with confidence.
Good preparation leads to smoother outcomes.
