When preparing to get your mortgage, getting your finances in order can be the difference between being accepted by a lender or not.
The first thing you should be doing in terms of your finances is checking your credit score before applying.
If you check your credit score first, through one of the main three agencies that lenders use (Experian, Callcredit and Equifax) then you’ll have a good idea as to whether or not you’ll be accepted when applying.
It’s actually worth checking your credit score with all three, to see if there’s anything you can pick up on and improve on before applying.
Once you’ve established your credit score, you should check our ‘how much can you borrow?’ calculator.
Our calculator is easy to use, and just requires a few details before it provides you an illustration of a deal that you could expect to get when it comes to getting a mortgage.
It’s quick and simple and really is worth doing, so you know how much you can expect to borrow before it comes to the all-important application process.
You should also be aware of any possible fees you could encounter when it comes to getting a mortgage. Some deals will have arrangement and valuation fees to consider.
If you can’t afford these fees, it could derail your mortgage application.
Finally, keep an eye on your finances in the lead up to applying, and don’t apply for any credit, avoid heavy spending and stay out of your overdraft.
If you are still unsure on what you should be doing, or how to organise your finances, talk to one of our expert advisers.