- Improve your credit score: Lenders will check your credit score when you apply for a mortgage, so it’s important to make sure that it’s as high as possible. Pay your bills on time, maintain a low balance on your credit cards, and avoid applying for new credit.
- Save for a deposit: The more you can put down on a property, the more likely you are to be approved for a mortgage and may allow you to access a lower interest band.
- Gather all the necessary documents: Before you apply for a mortgage, make sure you have all the necessary documents, such as payslips, tax returns and proof of income, proof of address, and identification
- Check your bank statements – lenders will review at least 3 months of these, so it’s a good idea not to have any large spending amounts, or excessive spending on lifestyle eg takeaways, pub, tickets, gambling etc. We’re not saying live link a monk, just be sensible…
- Up to date documents – is your driving licence valid, and at your current address? Is your passport valid? Is your bank statement showing your current address? Are your payslips showing current name and address?
At The Mortgage Branch, we are here to help you secure the most suitable mortgage for you, whatever your situation.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
