You may not have heard of the Mortgage Approval Confidence Index before, but there is a very good reason for that. The website unbiased.co.uk has just released the results of the very first index of its kind. If it catches on we could be seeing results released on an annual basis from now on. 38% of first-time buyers are worried about their prospects The first index has certainly revealed some telling information about the opinions of those who are looking for a mortgage in the near future. For example, of the first-time buyers taking part in the index, a full 38% of those questioned said they are concerned about their chances of being accepted for a mortgage. This was markedly higher than the 28% of all prospective buyers who were uncertain as to whether their mortgage would be approved on the first attempt. Perhaps the most telling aspect of the survey concerns the number of people who havent done anything to improve the odds of acceptance. Few would want to be rejected for a mortgage but many people are just hoping for the best, according to the results of this survey. Mortgage advice can vastly improve the chances of acceptance Perhaps most surprising of all is how much more likely someone is to be accepted for a mortgage on the first attempt if they have taken mortgage advice beforehand. In this situation more than four in five customers are approved on the first attempt. The index also provided information on a variety of things people had either done or were planning to do in order to maximise their chances of success. Information revealed that 28% had already checked their credit rating, while another quarter planned to do so in the near future. A further quarter had checked their outgoings to determine whether they could cut down on unnecessary spending to make their finances look more appealing. Another 23% were planning to do the same in the hope of impressing a potential lender. Third on the list was improving their credit rating if problems had been found to exist in this area. A quarter of those questioned had done this with a further one in five planning to do so soon. Reducing spending, researching different providers and seeing a financial adviser were other areas people had looked into, or were going to look into. Can mortgage advice and research improve an individuals chances of success? It would certainly seem to be the case, yes. Rather than rushing into a mortgage application it makes sense to spend some time polishing up your finances. The more appealing you can make yourself as a potential borrower, the more likely it is the lender will approve you for the mortgage you want. While it may seem like jumping through hoops, it is reassuring to know there are things a potential buyer can do to improve their chances of owning their dream home. If you need someone to lend you money, you have to convince them you are worth it.