Let Us Help You Improve Your Chances of Getting a Mortgage
Top Tips 1 and 2
Here at Bristol, Bath and Exeter Mortgages Online, we understand that getting your first mortgage, or even a remortgage, especially if your circumstances have changed, may look like an impossible task, but we are here to help.
We hold your hand from your initial enquiry through to the completion of your purchase. It's not that tricky and there are ways you can improve your odds and boost your chances of a successful mortgage application.
We’ll help you to be as attractive as possible to lenders if you want to get the best mortgage deal. Here are some top tips on how to boost your chances of getting the deal you want, adapted from www.moneysavingexpert.com.
Tip #1 Don't expect every lender to fancy you
Every lender has its own method to decide whether it wants to lend to you. It's like a beauty parade and lenders will be rating you against their ideals. If you fit a lender's criteria, you'll most probably be accepted quickly. If you're far from ideal, you'll most likely be rejected.
But for people in the middle, it's more of a grey area and the lender's scorecard will be based on several factors, such as:
- The size of loan you want to take out
- How much you've saved as a deposit
- Your employment status and income
- Your credit rating
- Your outgoings
- Your existing debt
How we will help you: We will use our expert knowledge to look at the whole of the mortgage market for you to match you with the most appropriate lenders.
Tip # 2 Check your credit score before they do
You need to convince lenders that you've got the financial discipline required to pay back your mortgage. One way they investigate this is by searching your credit report(s) to find out if you've a good repayment history.
Your credit report lists your past credit cards, loans, overdrafts, mortgages and even mobile phone and some utility payments, for all accounts that were open over the past six years.
It used to be that you'd have to pay to get your credit report, though now you can get them all for free. It is worth checking all of them, as you don't know which one(s) your future mortgage lender.
Some examples to use are
How we will help you: We will gladly look at your credit report in advance and give you guidance on how it could be improved. We can also consider applications for those who may have existing Adverse Credit issues
Whether you are a First Time Buyer or moving house , looking to remortgage or buying an investment property, we would be delighted to get you a great deal on your mortgage. For more information or to book your FREE CONSULTATION please visit one of our websites or contact us
www.bristolmortgagesonline.com Tel: 0117 325 1511
www.bathmortgagesonline.com Tel: 01275 584 888
www.exetermortgagesonline.com Tel: 01392 690 888
email info@swmortgages.com
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