HOME BUYERS are likely to face tougher checks when trying to get a mortgage with banks fearful that some borrowers won’t be able to afford monthly repayments as heating bills and other costs soar.

But an expert has revealed the 11 tiny mistakes to avoid which could stop you from qualifying for a home loan or leave you facing higher mortgage rates.

Nick Morrey is a technical director at mortgage broker Coreco and just one of the experts on our expanded Squeeze Team which is here to help you save money.

Whether you’re worried about paying your bills, need to clear debts or don’t know what to do with your pension, email us at [email protected].

Mortgage expert Morrey said that thousands of buyers could ruin their chances of clinching their dream home through common errors, which can be easily avoided.

If you’re on the ladder already, the same blunders could stop you from switching to a cheaper mortgage and leave you stuck on higher rates.

Morrey said: “There are lots of little things that build up to give lenders the bigger picture and help them decide if they should give you a mortgage.

“Some of these things are not that important in themselves, but taken alongside other factors they could cost you a home loan.

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“Others are very important and they could scupper a mortgage application all on their own.”

Not being on the electoral roll

It doesn’t cost you a thing to get on the electoral roll and it doesn’t matter whether you actually vote or not but not being listed is a big red flag for mortgage lenders.

Morrey said: “Being on the electoral roll is an indication that you are who you say you are and that you have lived at the addresses that you say you have.

“Get in touch with your council as soon as you can to get on the register as it can take some months and some local authorities only update their lists twice a year.”

Moving house too often

Of course there are lots of important reasons why you might want or need to move, but watch out for doing so too frequently, Morrey warned.

It’s certainly best to avoid doing so in the year before applying for a mortgage.

“Banks have lots of data on customer behaviour spanning back over decades which shows that people who live in the same place for a long time are more likely to be stable and have a better track record of keeping up with payments.

“Lenders like stability.”

Not having a credit card

So long as you use it carefully and always pay back at least the minimum repayment every month, a credit card is likely to boost your chances of getting a loan.

“It shows lenders that you can handle credit, in other words that you can borrow responsibly and pay it back,” said Morrey.

Betting

“It’s fine to have the occasional flutter, but make sure you don’t make regular payments to gambling sites or online casinos which will show up on your bank statement.

“Also making large bets is a no-no, as it could suggest risky behaviour.”

Using silly or rude references when paying back pals

“It might be funny to make a joke about illegal activities or insult a mate by calling them a rude name when paying them by bank transfer.

“But remember that your lender will be combing through your statements with a fine-toothed comb when you apply for a mortgage and this type of slur is unlikely to impress them,” said Morrey.

Switching bank accounts just before you apply

Of course you want to make sure that you’re getting the best deal on everything from current accounts to insurance, but switching lender in the run up to a mortgage application is not a good idea.

“Lenders’ data also tells them that people who stay with the same bank for a number of years are more likely to keep up their mortgage payments,” he said.

Taking a new job

You might want to switch jobs to get better pay or perks, but try to avoid doing so in the run up to making a mortgage application.

“Lenders like to see a stable employment history over the past two years if possible and they will definitely want to know that you have passed any probationary period in a new job.”

Using payday lenders and buy-now-pay-later firms

If you use a payday lender or buy-now-pay-later firm it will show up on your bank statement.

“Lenders don’t like to see this as it’s an expensive way to borrow money, they might interpret it as a sign that you’re not managing to live within your means.”

Errors in your address

When you live in a flat there can be different ways of writing your address.

If possible try to make sure that the address on the electoral register matches up with how it is written on Royal Mail’s database.

You can ask Royal Mail to update your address by filling out a form here.

“Make sure that you use the same format for your address in your application for a mortgage,” said Morrey.

Forgetting to pay a bill on time

“Set up all your bills so that they are automatically paid by direct debit to avoid the risk of missing one by mistake,” he said.

“A missed payment will stay on your credit file for six years.”

Using your credit card to take out cash

While it’s good to have a credit card it’s important that you use it in the right way.

Don’t use a credit card to take out cash as it’s another sign that you might not be living within your means.

Morrey said: “Also try and make sure that all your borrowing, whether it’s on one card or multiple cards, does not go above 50% of your annual earnings.

“Try and keep within 50% of your credit limit too.”

The Sun spoke to a money expert to reveal how to build up your credit score without taking out a credit card.

Credit scores aren't always the be-all and end-all in the world of money- many Brits need to stop worrying over their credit score.

But knowing what a credit score is and how to build one is still important in order to buy a house or take out loans.

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