Am I eligible for a mortgage?
When you apply for a mortgage, a lender will want to know that you can repay the money you borrow. They will look at lots of factors to decide whether you are eligible for a mortgage.
These include your finances, any debts, your credit history, how much you earn and how much you spend.
It’s not good for the lender or the borrower if a mortgage is given to someone who can’t afford it. Making checks is a way of making sure that the person who is given the mortgage is happy with the repayments and can commit to the full term.