Deciding to buy a home is the moment where your Pinterest boards become real plans, your savings account turns into bricks and mortar, and you finally stop scrolling new homes websites “just to look”. But before the keys are in your hand, there’s one big box to tick: getting your mortgage approved.
At Jelson Homes, we’ve been building new build homes in the East Midlands for generations. And we know that for many buyers, especially those buying for the first time, the mortgage process can be confusing. That’s why we’ve broken it down into seven practical steps, along with answers to common questions, to help you feel confident when applying for a mortgage.
- Check your credit score
Your credit score is one of the first things a lender will look at when assessing your mortgage application. It gives them an idea of how reliable you are when it comes to borrowing and repaying money. You can check your score for free through sites like Experian, Equifax, or ClearScore.
Q: What credit score do I need to buy a new build home?
There’s no one-size-fits-all number, but generally, a higher score gives you more mortgage options. Most lenders are open to working with a range of credit profiles, but a strong score can unlock more competitive interest rates.
If something on your credit report doesn’t look right, raise it straight away. Improvements like making bill payments on time and keeping credit card balances low can make a big difference over time.
- Start saving for your dream home
To buy a new Jelson home, you’ll usually need a mortgage deposit of at least 5% of the purchase price. Some buyers save more, which can unlock better mortgage deals, but 5 - 10% is a common starting point for new build mortgages.
You can open a savings account just for your deposit so it’s clear to lenders where the money has come from. If you’re getting help from a parent or relative, make sure they’re happy to write a “gifted deposit” letter, which your mortgage advisor can guide you through.
- Pull together your paperwork
Getting your documents in order early can make the mortgage application process much smoother. Most lenders will want to see:
- Three months of payslips or proof of income
- Recent bank statements
- Proof of ID (passport or driving licence)
- Proof of address (utility bills or council tax statements)
- A recent P60 (from your employer)
If you're self-employed, you’ll also need:
- Two years of accounts or SA302s
- A tax year overview from HMRC
Q: Can I use online documents?
Yes, most lenders accept digital copies as long as they’re clear and unedited. Keep everything saved in a folder on your computer or phone so you’re ready when the time comes.
- Keep your spending steady
In the months before you apply for a mortgage, try to keep a spending routine as lenders will look through your bank statements to see how you manage your money.
Avoid big purchases like new cars or holidays for now and try not to dip into your overdraft. These changes show lenders you’re ready to handle the responsibility of a mortgage.
- Stay in your current job
Job stability can really work in your favour during the new build mortgage process. Lenders usually like to see that you’ve been in your current role for at least six months.
Q: What if I’m self-employed?
That’s fine, too. You’ll just need a bit more paperwork, such as tax returns and business accounts from the last two years. A mortgage advisor can help you navigate this if you’re unsure.
- Understand what you can comfortably afford
Use a new homes mortgage calculator to get a rough idea of what you could borrow but also think about what you’d feel comfortable paying each month.
Remember, with a new build Jelson home, many buyers save money on energy bills and don’t need to worry about costly renovations. This may also improve your affordability and mean your money can go further.
- Speak to a mortgage advisor who understands new builds
A good mortgage advisor will explain your options, find deals you might not see online, and guide you through the process from start to finish.
At Jelson Homes, we work with trusted mortgage advisors at Meridian Mortgages who specialise in new build mortgage applications. They understand developer timelines, new build criteria, and all the paperwork involved.
Ready to buy a new build home?
Why not explore our latest new build developments across Leicestershire, Nottinghamshire, Lincolnshire and beyond, and discover what makes a Jelson home stand out from the rest.