Prior to applying for a mortgage, it’s important that you make sure your finances are in the best condition, in order to avoid your application being turned down by the lender.

As mortgage criteria are stricter than ever, more people find themselves facing problems when applying to a lender. Although a CeMAP qualified mortgage adviser may be able to assist in some cases, improving your credit score before going through the process will help.

Make sure you are included on the electoral roll, so the lender can see that you have lived at your current address. Taking a few minutes to register to vote will ensure that you are included on it, so your lender can see evidence of stability.

If you have shared a home with another person, including a spouse or partner, make sure that the credit reference agency is aware that the person no longer lives at that address and is not connected to you financially.

Although you may have paid off your credit card debts, you should also cancel those that you aren’t using, as a lender won’t be happy if you have several sources of credit available to you. A misconception which many people have is that if you have no credit at all, a lender is more likely to give you a mortgage. However, lenders would rather see a small amount of credit that you pay off in a timely manner, demonstrating your ability to pay.

Taking the time to organise your credit file and finances will improve your chances of being accepted for a mortgage.

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