How to Get a Mortgage in Sunderland: 2025 Guide for Buyers
Buying a home is one of the biggest financial steps you’ll ever take - and if you’re looking for a property in Sunderland, you’ll want to make sure you get the right mortgage deal. With house prices in the North East remaining competitive, now is a great time to buy - but knowing how the process works can save you both time and money.
At Fairway Mortgage Advice, we provide independent mortgage advice in Sunderland and surrounding areas. Here’s our step-by-step guide to getting a mortgage in 2025.
1. Work Out How Much You Can Borrow
Before you start viewing homes in Sunderland, it’s important to know your budget. Most lenders allow you to borrow around 4–5 times your annual income, though this depends on your credit history and other commitments.
💡 Tip: Speaking to a local mortgage broker in Sunderland means we can calculate your affordability and give you a realistic budget before you start house hunting.
2. Save for Your Deposit
Most lenders require a minimum deposit of 5–10%, but the more you can put down, the better. A larger deposit can mean lower monthly repayments and access to more competitive interest rates.
For example:
A £100,000 home in Sunderland with a 10% deposit = £10,000 saved.
A £150,000 home with a 15% deposit = £22,500 saved.
3. Check Your Credit Score
Your credit score is one of the key things lenders look at when deciding whether to approve your mortgage. Even if you have bad credit, there are specialist lenders who may still accept your application.
💡 Tip: Avoid applying with multiple banks at once, as this can harm your credit score. Instead, let an independent mortgage adviser find the right lender for your circumstances.
USE OUR LINK TO SIGN UP FOR A FREE TRIAL FOR YOUR CREDIT REPORT: https://www.checkmyfile.partners/BWMKT95/2CTPL/
4. Get a Mortgage Agreement in Principle (AIP)
An Agreement in Principle shows sellers and estate agents that you’re serious and can afford the property you’re viewing. Many Sunderland estate agents prefer buyers who already have an AIP in place, as it makes the sale more secure.
5. Compare Mortgage Deals
Your bank will only offer its own products - but that doesn’t mean they’re the best deals out there. As an independent mortgage broker in Sunderland, we search the whole market to find the right deal, including lenders you won’t find on the high street.
6. Apply for Your Mortgage
Once you’ve found your dream home, it’s time to make your application. Your lender will check your documents, affordability, and property value before issuing a formal mortgage offer.
We’ll guide you through the paperwork, keep things moving quickly, and explain each step in plain English.
7. Get the Keys and Move In!
After your solicitor completes the legal work and your lender issues the mortgage, you’ll receive the keys to your new Sunderland home. 🏡
Why Choose fairway mortgage advice as Your Sunderland Mortgage Broker?
Independent, whole-of-market advice
Local expertise in Sunderland and Tyne & Wear
Support for first-time buyers, remortgages, buy-to-let, and bad credit mortgages
Friendly, personal service from start to finish