Do you have hopes to buy? Whether you’re looking to get on, move up or down the ladder, your property dreams are possible with a little preparation. Here’s how you can get yourself prepared to be mortgage-ready this summer.
- Check your credit score – Lenders will inspect your credit report for evidence that you can meet the mortgage repayments. Check your records for free, as no matter where you are today, there is always an opportunity to boost your score.
- Consistency is key – Mortgage lenders are looking for signs that you are responsible, so paying your bills on time is a great way of boosting your credibility.
- Go through old accounts – It is advisable to close accounts that are out of date.
- Register to vote – Being on the electoral roll serves as proof of your identity and address.
- Maximise your deposit – It can be tempting to place the smallest possible deposit on a property. However, this will cost you more in the long run as your monthly repayments will be higher.
- Seek independent advice – You don’t need to navigate the mortgage market on your own. Working with an independent mortgage adviser will ensure that you view the whole of the market, including mortgage options that you might not have access to, ensuring you get the best mortgage for your individual needs as well as assisting you through the application process.
Click on this link for more mortgage news including what to consider when buying a new build and the cheapest city for a first time buyer!
For all of your mortgage needs call Blackdown Financial on 01823 321616 or email -enquiries@blackdownfinancial.co.uk and we would be happy to support.
We look forward to hearing from you.
Blackdown Financial Mortgage Team
Please note that as a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.
