Financial preparation

Before you begin your property search, getting your finances in order is essential if you want to be in the best position to secure your dream home.


What budget do you have in mind for your home? There are various ways to work out how much you can afford to spend on your mortgage and insurances. You can start online by completing our budget planner and if you book an appointment with a Reeds Rains mortgage adviser they can help you work through the planner.


Do you have enough money saved for your deposit? You are likely to need at least 5% of the purchase price of the house as a deposit. However, if you can save more for a deposit you can often get a cheaper mortgage.


How much you could borrow? Have a look at our latest mortgage deals to find out likely fees and interest rates. You can calculate online how much your repayments would be based on different interest rates. Or you can talk to a Reeds Rains mortgage adviser who will be able to discuss the different criteria lenders may have for how they calculate the amount they would be willing to lend you.

Credit score

Do you know about your credit score? Your credit score could affect your mortgage borrowing ability. You can check your credit score on the internet at sites such as the Credit Expert from Experian and you can improve it by doing such things as registering to vote.