As far as financial decisions go, arguably the most important purchase you will ever make in your life is getting a mortgage and buying a house. Mortgages can be elusive to some of us, and getting one nowadays is exponentially more difficult than it was a generation or two ago. The good news is that you can still find plenty of great deals when it comes to mortgages, you just need to know where to look and what to do. Here are a few tried and tested ways of improving your chances of getting a mortgage and buying your dream home.

Make sure you have a good credit score

When it comes to applying for a mortgage, one of the first things the potential lender is going to do when you approach them, is check your credit score. Mortgages and credit ratings go hand in hand with one another, so you need to ensure yours is as strong as it can possibly be. There are sites out there that will offer you free checks of your credit score, though they aren’t always 100% accurate, but they do give you a general idea. If your score isn’t great, you can improve it by doing things like taking out a credit card and making sure to pay it off and not miss payments. Mobile phone contracts, or car finance deals can also improve your rating, as long as you never miss any payments.

Try to hold down a job/career

When it comes to getting a mortgage, like the foundations of your potential new home, the lenders want to see stability. Some people out there are happy to go from job to job, or even from career to career, which is perfectly fine. The problem with mortgages however, is that the lenders want to see that you have been with your employers, or running your own business, for a decent amount of time. We’re not talking decades, but at least one year minimum will be beneficial for your chances.

The less debt you have, the better

Nobody wants to have debts, yet for some of us they are unavoidable. The thing to remember however, is that the more debts you have, the less chance you’ll have of securing a mortgage. Lenders not only want proof of earnings, they also want to see how much debts you have. It all comes down to incomings versus outgoings. Try to clear as many debts as possible before applying for a mortgage, as the less money you have leaving your account, the higher your chances will be of being approved.

Try to put down a good deposit

Sadly, for many people it is the deposit that makes it tough to purchase a house, as saving for a deposit, while living a life and covering expenses etc, can be a bit of a nightmare. When it comes to putting down a deposit however, the more you can save, the better your chances of being approved will be. Those with large deposits generally get access to the best deals, so just bear that in mind. Not only that, but the more you put down upfront, the less you will pay each month.