Summer is here, the days are at their longest\u2026 and your property dreams may be closer than you think! Whether you\u2019re hoping to move up, down or onto the ladder, with a little preparation, you can be mortgage ready before the leaves start falling again.<\/p>\n
Understand your credit score…<\/strong> One of the first things you need to be aware of when applying for a mortgage is how your credit score might affect your chances. Before lenders inspect your score, you can check your own records and find out which areas might need some work.<\/p>\n …and improve it!<\/strong> You can\u2019t control everything in your mortgage application but there are simple ways to boost your credit score. These include registering to vote, correcting any errors with the credit agency and closing down inactive or old accounts that are out of date. This last one is especially important for joint accounts with people you are no longer financially linked to.<\/p>\n Build your deposit<\/strong> If you\u2019re a first-time buyer (FTB) who has been saving for what feels like centuries, chances are you\u2019ll be fed up of hearing this one. But it is true that the higher the deposit you can put down, the lower you\u2019ll have to pay back in the long run.<\/p>\n Manage your credit<\/strong> When borrowing on credit cards, lenders prefer to see spending well below your credit limit. Generally, the advice is to use less than half of your available credit, though some experts advise keeping to 25%. So if you’ve a combined limit of \u00a36,000, aim to use no more than \u00a33,000 of it \u2013 and stay below \u00a31,500 if possible.<\/p>\n Here to help<\/strong> Whatever your property dreams, you don\u2019t have to go it alone. We are here to help you prepare the best possible application for your unique circumstances.<\/p>\n \ud83d\udea8 Data accurate as of the date of publication \u201305.08.2024<\/p>\n \ud83d\udea8Information within this blog is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed.<\/p>\n \ud83d\udea8Think carefully before securing debts against your home.\u00a0 Your home may be repossessed if you do not keep up repayments on your mortgage.<\/p>\n \ud83d\udea8 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.<\/p>\n <\/p>\n Source: Quilter Financial Planning \u2013 Essentially Mortgages Q3 2024<\/p>\n","protected":false},"excerpt":{"rendered":" Summer is here, the days are at their longest\u2026 and your property dreams may be closer than you think! Whether you\u2019re hoping to move up, down or onto the ladder, with a little preparation, you can be mortgage ready before the leaves start falling again. Understand your credit score… One of the first things you […]<\/p>\n","protected":false},"author":3,"featured_media":3587,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n