How to Prepare for a
When you decide to buy a house getting a mortgage can be
complicated and frustrating! With so many mortgage options and
lenders available and your individual circumstances it can be difficult.
You will want to make yourself as attractive to lenders as possible,
not only to secure the mortgage of you choice but to get the best
deal, which can mean saving hundreds of pounds.
Take a look at our top tips for increasing your chances of being
successful when you apply.
Every lenders criteria will be different, for some people who are for
example self-employed or have a bad credit history getting the right
mortgage can be more complicated.
Doing some simple checks and getting your information/paperwork
together prior to making your application, should increase your
chances of success.
Always double check you have filled in the forms correctly and have
all the required paperwork for your application – sounds simple but
things can easily get missed.
Mortgage lenders will take a look at your credit report to check if
you have the financial discipline needed to make your mortgage
Credit reports list details from accounts you have had open in the
last size years including credit cards, loans, some utilities, overdrafts
It is worth checking your status with the three main credit reference
agencies in the UK, TransUnion, Equifax and Experian.
I have a bad
Having a poor credit history might not rule out your chances of
getting a mortgage. If you can try to improve your record before you
apply for your mortgage or take advice from an independent
mortgage broker about your individual circumstances. They should
be able to advise on what you can do to improve your score and
which lenders may look more favourable at your application.
Sometimes the information on your credit file may be incorrect, if it
is you have the right to have the error correct