Can I actually afford this?
Before you start dreaming about kitchens and gardens, work out what's realistic. This is the foundation everything else sits on.
This is the stage everyone wants to skip. Don't. Knowing your numbers before you start looking saves you from falling in love with something you can't afford, or worse, stretching for a property that turns the next ten years into a struggle.
There are two numbers that matter: what a lender will offer you, and what's comfortable to live with. They're rarely the same. Just because a bank will lend you the maximum (which can be anywhere from 4.5x to 6x your salary depending on the lender) doesn't mean you should take it all.
Tools to help with affordability
Free Real Affordability Calculator
Income multiples + DTI + monthly comfort check, the way a lender actually thinks.
Learn more →Free Moving Costs Calculator
Stamp duty, fees, survey, removals, total cost of buying, not just the deposit.
Learn more →Recommended checkmyfile, All 4 credit reports in one
Pull your full credit file from all four UK agencies (Experian, Equifax, TransUnion, Crediva) before lenders do. Free 7-day trial.
Get your free 7-day trial →The biggest mistake first-time buyers make is borrowing the maximum a lender will offer. Just because they'll lend it doesn't mean it fits your life. Build in a buffer. Interest rates can rise, life can throw surprises, and a mortgage that's comfortable at 4.5% might not be at 6.5%.
When you've worked through everything in this stage, mark it complete to track your overall progress.
Found this useful? If you'd rather talk it through with a real broker, book a free chat with DS Financial, the regulated mortgage adviser.
Book a free chat with DS Financial