A mortgage is a loan secured against your home, and you’ll usually need a deposit of at least 5% of the purchase price, although a larger deposit may give you more options. Lenders assess your income, regular spending, debts, credit history and employment before deciding how much they may lend. An agreement in principle can indicate what you might borrow, but it is not a final offer. Budget for costs such as solicitor’s fees, surveys, mortgage fees and Stamp Duty where applicable, and consider speaking to an FCA-authorised mortgage adviser or checking guidance on GOV.UK.