Nowadays, obtaining a mortgage can be complicated. We all have credit scores, whether we know it or not, and our chances of obtaining a mortgage offer will be largely determined by that score. Therefore, the best way to check out your score before you apply for a mortgage is to use one of the major credit scoring companies such as Equifax or Credit Expert.
Obtaining a credit check might enable you to address incorrect information held on your account or rectify bad practices.
For example, never miss payments on credit cards, loans or utility bills. Try your best to stay out of your overdraft and never go overdrawn without a facility in place.
Make sure you are registered to vote! It may seem odd to you, but lenders will check your name against the voters register. If you are not there, you have a problem. Register to vote!
Cut back on expenses. Nowadays lenders will need you to prove that you can afford to repay your mortgage even if interest rates rise. They will want to see your monthly expenses so that they can work this out, so before you apply take a few months to cut back on unnecessary expenses.
Whilst you’re at it, get all your paperwork in place. Find those P60s and line up all your paperwork so that the application can be submitted and run smoothly.
Finally, use a mortgage broker! OK, so you might expect us to say that, but at Mortgage Required, we are experts in arranging mortgages for our clients. Just because you might not be every lender’s ‘cup of tea’ does not mean we can’t find a mortgage that is right for you!
Related Blog articles:
- How to Improve Your Credit Score
- Can I get a Mortgage with a Bad or Poor Credit rating?
- What Credit Checks do Mortgage Companies do?
For more information speak to a mortgage adviser on 01628 507477 or contact us .
Recent posts
When will mortgage rates fall further?
Yesterday
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
Lloyds boost lending for first-time buyers
8 days ago
Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.
As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more.
The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.
Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.
Nationwide ease criteria for first-time buyers
11 days ago
Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.
Ways to save money over the summer holiday
17 days ago
Keeping the kids entertained over the six-week summer holidays isn’t always easy, especially with the cost-of-living making it even more difficult. Below is a list of fun, inexpensive ideas to do over the break
The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.
Ever wondered where the most reasonably-priced towns for families to buy are? Property company, Zoopla has identified the top 10 towns for families to live in the UK by looking at the most affordable towns, and how many people are looking in that area.
More information
Trusted by
