Let Us Help You Improve Your Chances of Getting a Mortgage
Top Tips 3,4 and 5
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 #3 Correct credit score errors pronto
If your credit file information is wrong, you have a right to do something about it - either having the error corrected or, at the very least, having your say.
Your first step should be to check if the error is on your credit file held with other agencies, then talking to the lender. If this doesn't work, the free Financial Ombudsman could step in and order corrections.
How we will help you: We will gladly talk through any errors you may have and discuss this on your behalf with potential lenders. We can also advise you on prioritising sorting any issues.
Tip #4 Register to vote or you'll have no chance
This is a deal breaker. While you can have a perfect credit score without being on the electoral roll, it's still ALMOST impossible to get a mortgage without it. Lenders use electoral roll data in identity checks (to ensure you are who you say you are, and live where you say you live and that you're not laundering money).
Your credit file will say if you're on the electoral roll or not, but you can also check with your local council. Do this as early as possible. While you can usually be added within a month, in late summer and early autumn it could take longer.
If you're not on it, you can register on the electoral roll for free. If you're not a UK or EU national and thus can't get on the electoral roll to vote, then you can put a notice of correction on your file, saying you have other proofs of address and ID you can offer lenders (assuming that you do).
How we will help you: From the very first initial free consultation, we will advise you about the correct documentation and any required actions that you will require for a successful and timely mortgage application.
Tip #5 Your ex partner's score can wreck yours
If you're financially linked to someone else (which only happens when you apply for joint credit, such as a bank account, mortgage or loan) but you're now separated or have nothing to do with them, then de-link yourself.
If not, any late payments or misdemeanor they've committed will reflect badly on you. Write to the credit agencies and ask for a notice of 'disassociation'.
You could still be linked to old flat mates if you had a joint bank account for bills, so it's worth checking that their credit history isn't affecting yours. If it is, de-link yourself quickly.
Even if the person you're linked to has a good history now, you still risk problems in future if they miss payments.
How we will help you: If you think this may be an issue, we will we work with you to establish what action needs to be taken prior to any application be submitted.
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 0117 325 1511
www.bathmortgagesonline.com 01275 584 888
www.exetermortgagesonline.com 01392 690 888
email info@swmortgages.com
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