Top tips on being Mortgage Ready

Get the best mortgage deal on offer

Top tips on being Mortgage Ready

If you’re thinking of applying for a mortgage sometime soon, it pays to be as prepared as possible. Simple steps like checking out your credit score, getting on the electoral register so that your name and address can be verified, and ensuring that you make regular repayments on your credit card or other loan, can all help put you in a good position when you make an application.

You’ll need ID and proof of address, so make sure your passport and driving licence show your current address, and that you have important financial documents like bank statements, payslips and P60s to hand. If you’re self-employed you will need an SA302 form relating to the last two to three years from HMRC, or your full accounts for the same period.

What lenders look for

As you’ll probably be borrowing a hefty sum, any potential lender will scrutinise your financial position carefully. Understandably, they will want to see evidence that you can manage your money responsibly and live within your means. They’ll need to feel comfortable that if interest rates were to rise, you could still manage your repayments.

So, it makes sense to take a critical look at your spending ahead of time, going through your recent bank statements and cancelling any standing orders and direct debits for services you don’t really use or need.

Ramp up your savings

As you’ll probably be aware, the bigger the deposit you can find, the less you’ll have to repay and the better the mortgage deal you’re likely to get. So, every penny you can save now is likely to make a difference.

Your mortgage is likely to be your single largest financial commitment 

With concerns about the possibility of interest rate rises and the impact of a no deal Brexit, there's never been a better time to switch lenders. You need to find the best deal now - and for the next few years. Many of our clients come to us because they have been turned down for a mortgage elsewhere. 

We don't just deal with the 'high street' lenders - we can source funding from smaller, niche lenders too. We can help with equity release and find more competitive refinance remortgage rates. Call now for details of all our mortgage advice offers (including remortgages) with the possibility of excellent low and fixed interest rates.  Whether it is a home mortgage, commercial mortgage* or re-mortgage, we can provide appropriate advice and will be focused on getting your mortgage processed quickly.

A poor credit rating doesn’t mean you can’t get a mortgage

If you have missed a few credit card payments or made late payments, had a County Court Judgment (CCJ) awarded against you, have previously been made bankrupt or IVA, you may still be able to get a mortgage if you know where to look.

We have access to many specialist adverse credit lenders who take a more sympathetic view on poor credit history, This email address is being protected from spambots. You need JavaScript enabled to view it. to find out what we can do for you.

Not all forms of Buy to Let mortgages and commercial mortgages are regulated by the Financial Conduct Authority. 

Your home may be repossessed if you do not keep up repayments on your mortgage.