First Time Buyers
Buying for the first time can be daunting.
Vital actions for first time buyers:
1: Check your credit score - Your score can affect how much you can borrow.
2: Deposit.
3: Income details.
The first thing to do is check to see how much you can borrow. You will need knowledge of the above before finding out.
Book a free appointment with one of our qualified advisers today.
Credit score
In order to be approved for a mortgage you will need a good credit score. You can review this by registering with a credit reference agency and reviewing your score. Take time to understand how to improve the score. The better the score, the higher the chance to be approved for lending, and in many cases with a lower deposit.
Book a free appointment with one of our qualified advisers today.
Deposit
When purchasing your home, it's essential that you contribute towards the cost. You can use savings, or a gifted deposit from family. The reason is to ensure you are investing into your home and therefore have an interest in keeping up for mortgage repayments! The higher the deposit, the lower the interest rate you will be charged.
Income details
You will need to provide details of your income. If you are employed, you will need to access to your payslips. For self employed customers you will need to access tax returns or business accounts. All applications will need to have paperwork to verify the income in support of the lending. The sooner we have this information, the quicker you will receive your mortgage offer!
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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