Saving monthly is a bit of an obvious one but everyone needs to put down a deposit on a property and the amount you will need to put down will depend on a variety of factors so having what you believe is enough for a deposit saved up and also having some money spare for things like moving costs. This could be things like surveyor and solicitor fees; It could be stamp duty or actual moving costs going from A to B. It’s all best to be prepared for everything that could happen and this includes the house also needing a bit of work when you first move in; Maybe you didn’t notice a problem with the home until you moved in and you need some funds to deal with the problem, this is where so money on the side can help and if you don’t end up using it then you can spend it on something else or save it for a rainy day.
Then it would be good to reduce your outgoings as much as possible and this will most likely help in your application for the mortgage. The reason for this is that the lender won’t want to see you spending all of your money on things that aren’t necessary, this could be fast food takeaways, gambling and spending that can’t be justified. If you get rid of these not only, will you free up some more money you can put towards your mortgage but the lender will also like it. Another thing to reduce or completely get rid of is the debt you have; this is because the lender will want you to be focusing on paying the mortgage and not be distracted by any other debts you might have. Having a clean credit rating will also help as that will prove that you can be trusted with money that isn’t yours and that you have paid burrowed money back before.