Some advice for those thinking about The Mortgage Minefield

The first hurdle to overcome is the lender's credit score. This can be tightened and loosened at will as a lender decides exactly when to increase or decrease their lending levels.

A good three-year address history is a must and it helps dramatically to be registered on the voters roll at your current address.

The amount you can borrow is no longer simply linked to a multiple of your income, but on an affordability basis linked to the credit score. Monthly outgoings are taken into account, so a small credit card you could pay off, but choose just to pay the minimum, will affect your borrowing.

The number of dependents you have also has a bearing, as will any outgoings many take for granted such as childcare. This means that although they may be on the same incomes, a couple with no children or credit card debts may be able to borrow substantially more than a couple with two children and outstanding credit card balances.

In terms of documentation, lenders will want to see your last three months' payslips and last P60 as well as potentially your last three months' bank statements.  These must be sequential with no single statement missing. Be warned that many lenders do not like internet bank statements, even though they encourage their own customers to switch to online statements.

If purchasing, proof of the deposit monies will also be required. If this is a lump sum that has suddenly appeared in your account then they will want to know the origins of this.

For those who are self-employed or have more erratic income, lenders are generally asking for much more documentation. Apart from the last two years' accounts and possibly the last 12 months' bank statements, lenders have also been asking for form SA302, which shows the tax calculation made by the Revenue. This is something that many do not necessarily receive as a matter of course and it will need to be specially requested, slowing down an application.

The frustrating part is that there seems to be no uniformity to what lenders will ask for and when! Decent independent mortgage brokers will know which lenders are moving quicker than others and what they are likely to ask for at any given  time.