Applying for a mortgage is a big step toward owning your dream home, but did you know your actions after submitting the application can impact its outcome?

Lenders scrutinise your financial situation carefully, so staying on track is essential. To avoid unnecessary complications, here are some things you should absolutely not do once your mortgage application is in progress:

1. Don’t Make Major Purchases

Buying a new car, furniture, or other big-ticket items can alter your debt-to-income ratio. Even if it feels like the perfect time to splurge, hold off until after your mortgage has been approved.

2. Don’t Change Jobs

While a new job might mean higher pay, it can also raise concerns for lenders about employment stability. If possible, avoid making career changes until your mortgage is finalised.

3. Don’t Open or Close Credit Accounts

Opening new credit accounts or closing existing ones can impact your credit score. Lenders monitor these changes, and even small shifts in your credit history could affect your approval.

4. Don’t Make Large Cash Deposits

If you need to deposit a significant sum into your bank account, ensure you have documentation to explain the source. Unexplained cash deposits can raise red flags for lenders.

5. Don’t Miss Payments

This one might seem obvious, but it’s crucial—always pay your bills on time. A missed or late payment can harm your credit score and jeopardize your mortgage application.

6. Don’t Overcommunicate with the Lender

It’s important to provide requested documents promptly, but bombarding your lender with unnecessary updates or questions can slow the process. Stay patient and let us as your adviser guide you.

7. Don’t Change Your Financial Habits Drastically

Sudden changes in your spending or saving patterns could appear risky to lenders. Stick to your usual routine until your mortgage is approved.

8. Don’t Assume Everything Is Final

Even after receiving a mortgage offer, lenders may recheck your financial details before completion. Keep your finances stable until the purchase is complete and the keys are in your hand.

Final Thoughts

Securing a mortgage is a careful balancing act. By avoiding these pitfalls, you’ll keep the process smooth and ensure the best chance of approval. If you’re ever unsure, consult your mortgage adviser—they’re there to help you navigate the journey.

Remember: patience and consistency are key. Your dream home is worth it!