Mortgage eligibility check | Compare the Market

Check your mortgage eligibility


Find out how much you could borrow for your dream home

Find out how much you could borrow for your dream home

Alelsandr and Oleg on a swing set

What is a mortgage eligibility check?

A mortgage eligibility check asks for a few details about yourself so we can tell you how much you might be able to borrow. It's also a good way of letting estate agents or developers know you're serious about getting your dream home.

What it doesn't do is show you a list of mortgage product rates and prices to compare. If that's what you're looking for we can help you in the comparison tables.

How is this useful?

Icon of a report

Mortgage calculator

Quick tool to budget for a mortgage.

Icon of a gauge

Soft checks

No impact on your credit rating.

Icon of a target

Accurate

Uses lender criteria and your credit record.

Icon of a clock

Saves time

10 minutes to see your aggregated eligibility results.

Lenders on our mortgage eligibility checking service:

Mortgage eligibility results only apply to these selected companies and not to all the mortgages you can compare, so there may be other mortgages you're eligible for.

What information do I need to have on hand?

  1. Your personal details and three years of UK address history
  2. Your annual salary and any other income
  3. Your financial commitments such as credit cards, loans or child care costs
  4. If you're applying with someone else, their permission to provide their details

This may not be the right tool for you if you:

  • Are not 18 years of age or above
  • Are not a UK resident with full rights to reside and at least three years of UK address history
  • Are suffering financial difficulties that could impact your ability to pay your mortgage
  • Don't plan to use the mortgage for a property in the UK (e.g. France)
  • Don't plan to use the mortgage for a property in mainland UK or Northern Ireland (for example, Isle of Wight)
  • Don't plan to live in the property (for example, buy-to-let, second home or commercial premises etc.)
  • Are using government purchase schemes such as Help to Buy or Right to Buy mortgages. Help to Buy ISAs are an exception.
  • Plan to apply with more than one other person.

If you're looking for help with the above please visit our trusted mortgage advisers moneyQuest at 0141 243 5633.

Frequently asked questions

  • Can I get a mortgage?
  • Why should I check my eligibility?
  • Will a mortgage soft search affect my credit score?
  • How is a mortgage eligibility checker different from a mortgage price comparison?
  • How are the results calculated?
  • How accurate are the results from the mortgage eligibility check?
  • How does the eligibility check differ from other mortgage calculators?
  • Which companies provide my mortgage eligibility results?
  • Do you share my details with third parties when using the eligibility check service?

Can I get a mortgage?

Your ability to get a mortgage depends on a number of factors including the amount you're looking to borrow and the relative size of your deposit, along with your credit history. Some additional factors to consider include: your employment status and income, your credit rating, your expenses, your dependents, and your existing debt.

Before applying for a mortgage, you may want to work out your budget to get an idea of how much you can afford to cover your deposit and monthly repayments, and have enough spare for any associated fees.

You may need to try to reduce any existing debts and you may want to understand your credit score. You can get your score from your credit report. You're entitled to one free copy from each of the three credit reference agencies – Experian, Equifax and Call Credit.

Start your mortgage eligibility check

Why should I check my eligibility?

Lenders will often have very widely varying policies about their lending criteria, credit history and how much they will lend. Before you apply for a mortgage, it's a good idea to increase your knowledge about your ability to borrow. If not, a failed application could impact your credit score and your future options.

We can help you get an eligibility check if you are a First Time Buyer, Home Mover or wanting to remortgage. We match your information with the affordability and eligibility criteria of the lenders who we work with on our panel. Each lender returns a unique result on their willingness to lend to you.

For more information on the companies in our lender panel, please see FAQ: 'Which companies provide my mortgage eligibility results?'

Please note that this service is not advice and does not look at whether a mortgage is suitable for your needs. Eligibility results from lenders are indicative only and may change if you choose to apply for a mortgage.

Will a mortgage soft search affect my credit score?

In short no, a soft search will not impact your credit score as lenders are not able to view it on your credit report as you're not actually applying for credit.

In order to work out how much you could borrow we need to conduct a "soft" credit search with a credit reference agency against your credit file.

However, you will be able to view it as "Compare the Market - Mortgage" when you access your credit report.

How is a mortgage eligibility checker different from a mortgage price comparison?

Our eligibility checking service provides you with a personalised check to let you know how much a select panel of lenders could lend you. What it doesn't do is show you mortgage rates and prices.

Our mortgage price comparison lets you view mortgage products and rates across the whole market. We return results based on your desired property price, deposit and over how long you're looking to borrow. These results do not provide an indication as to how much you could personally borrow.

How are the results calculated?

We calculate your eligibility check based on the information you provided about your household, income, expenses, your borrowing requirements, and results of a soft credit bureau search. We base your results against a panel of lenders. Each lender returns a unique result on their willingness to lend to you. We've simplified this information and prepared a summary view to provide your eligibility amount or range.

The information we provide is a guide to help you understand your personal mortgage eligibility better. As a comparison service, we do not offer advice or recommendations in relation to specific mortgage products.

How accurate are the results from the mortgage eligibility check?

We ask only the necessary questions that lenders usually require when assessing your eligibility (such as how many dependents you have and your fixed financial commitments). Most lenders assume that your other expenses are similar to that of Office for National Statistics (ONS) averages for your location. However, your results may vary if you have significantly different living expenses than these averages or if you are looking at a listed or unusual property.

We show you an aggregated range of results from the lenders on our panel. Most lenders assume that your other expenses are similar to that of averages for your location established by the ONS. The results returned do not mean that you are eligible with all of the lenders on our panel. The amount you may be eligible to borrow could vary from lender to lender.

If you have questions about your specific situation, then it's best to talk to a mortgage adviser. Please speak to our trusted mortgage advisers, moneyQuest, at 0141 243 5633.

How does the eligibility check differ from other mortgage calculators?

Compare the Market mortgage eligibility check uses lender criteria and results of a soft credit bureau search along with the information you provide. Each lender returns a unique result on their likely willingness to lend to you.

Some mortgage calculators only use a simple multiple of your income to estimate your eligibility, which is typically not very accurate. Other tools may ask lots of detailed questions about your personal and property criteria, but do not provide insight based on indicators only available in your credit file.

Which companies provide my mortgage eligibility results?

Here's a list of the companies we work with to calculate your mortgage eligibility ratings. Please note, these are subject to change at short notice.

Mortgage companies:

  • Coventry Building Society
  • Family Building Society
  • Leeds Building Society
  • Platform (the intermediary lender of the co-operative bank)
  • West Brom Building Society

Mortgage eligibility results only apply to these selected companies and not to all the mortgages you can compare, so there may be other mortgages you're eligible for.

Do you share my details with third parties when using the eligibility check service?

Compare the Market has selected Lovemoney.com Financial Services (LMFS) to provide you with this service. As part of the indicative eligibility checking service, LMFS will need to retrieve and use data from one or more of the three main Credit Reference Agencies in order to provide your eligibility results.

For more information about LMFS, and about how your data will be used, please see our privacy policy.

About moneyQuest Mortgage Brokers Ltd (moneyQuest)

moneyQuest Mortgage Brokers Ltd (moneyQuest) are a whole of market mortgage broker with over 20 years' experience in helping people secure their perfect mortgage. Advice is provided by moneyQuest who are an appointed representative of Stonebridge Mortgage Solutions Ltd.

moneyQuest are not part of Compare the Market Limited. Compare the Market may receive an introducer's fee from moneyQuest for customers who use this service. All applications are subject to lending and eligibility criteria.

moneyQuest may charge you a £395 broker fee should you decide to proceed with a mortgage.