In a recent episode of The Martin Lewis Money Show Live, financial expert Martin Lewis shared valuable tips for first-time buyers looking to secure a mortgage. One of the most important factors that mortgage lenders consider is an individual's credit score, so Lewis advised viewers to check all three credit agencies - Equifax, Experian, and Transunion - for any errors in their credit report. Even the smallest mistake, such as an old mobile phone linked to the wrong address, could harm an applicant's chances of getting approved for a mortgage.

Lewis also emphasized the significance of making all payments on time, including paying off credit cards in full every month. This demonstrates to lenders that the individual can be trusted to handle significant monthly payments. Additionally, he advised potential buyers to minimize other credit applications leading up to their mortgage application and to be more cautious with their spending during that time. This is because first-time buyers are often required to undergo an "affordability stress test" that analyzes an applicant's income and expenses in the months leading up to the application.

Overall, by following these tips and ensuring a good credit score, timely payments, and responsible financial behavior, potential buyers can increase their chances of being accepted for a mortgage.