💨 Abstract

A mortgage application relies on three main factors: affordability, property type, and credit. Martin Lewis highlights affordability as the most important, emphasizing that lenders thoroughly assess bank statements and stress-test repayment abilities. Unusual property types, like small studio flats or homes near commercial spaces, can make mortgages harder to secure. While a bad credit history can impact the application, it's not the ultimate deal-breaker if affordability and property type criteria are met.

Courtesy: Jessica Lindsay