I'm Planning To Get a Mortgage (United Kingdom)?

The biggest mortgage you will get is the smaller of:

-- 4 x your sole income if buying alone or 3½ x your joint income if buying with someone else

-- Your deposit x 9.

-- 90% of what the lender thinks the property is worth

There are 95% mortgages, but the conditions and fees make them useless for most people.

okay firstly - your minimum deposit will need to be 10% however this will not secure you a good rate, you can get a better rate with 20% saving around £100 per month on your interest.

secondly - yes a credit card does build up your credit as long as you pay the balance in full monthly and you actively use it

Thirdly - credit scoring looks at employment history length (3yrs+ is good) whether you are on the voters roll and whether you have any late payments or arrears (bad)

Finally your gross income minus any debts will roughly be multiplied by 4-5 times as long as you dont have any dependents. - it used to be 4x sole and 3 1/2 times joint but this changed in 2005 as property became less affordable and we saw a peak in the property market in 2008 then a crash that caused lenders to require a larger deposit to secure a better rate.

regarding an ISA shop around you have missed the isa season in april when you can pick up the best rates but you should check out ING or Santander they usually do good rates.

finally - dont apply for any credit facilities like loans or credit cards at least 6 months before you get credit scored for a mortgage

10% deposit; solid employment history; good evidence that you can manage such a loan are all necessary.

Savings accounts: see http://www.moneysavingexpert.com/savings/savings-a...