5 Ways to Maximise Your Mortgage Borrowing?
When you apply for a mortgage, lenders will assess your finances and your ability to make repayments on your loan. So, it pays to do your homework in advance.
Review Your Outgoings
One of the things a lender looks at closely is the amount of debt you currently have. It makes sense to use any savings you have to pay down loans and credit card borrowings but be sure to leave yourself enough saved to cover emergencies.
Check Your Credit Rating
A good credit rating can help you secure a better mortgage deal, with a lower interest rate. Simple tips that will improve your credit rating include - being on the electoral roll, paying utility bills on time and paying off your credit card balance in full each month.
Close Accounts You Don't Need
If you have accounts, memberships or subscriptions that you no longer use, it makes sense to close them down.
Ask The Family
Increasingly, parents and grandparents are helping out, they may be able to give or lend you some money, or act as a guarantor for your mortgage.
Get Some Good Advice
A mortgage is more than just a sizeable loan - it's about getting the most suitable deal for your money too. The good news is that we're on hand to help!
We can help you!
Your home may be repossessed if you do not keep up repayments on your mortgage
Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.