If you believed what you have read and heard in the media over the last few years it would be easy to think that mortgage lending was a thing of the past; lack of credit, banks not wishing to lend, lending levels at all time lows etc. Whilst there are some elements of truth in this, the situation is nowhere near as bleak. In fact, if you meet 3 simple criteria the options available are vast;
- 1. Do you have a deposit for your purchase (10% normally)?
- 2. A good credit history?
- 3. Can you prove your income
- 1. Meet with an Independent Mortgage Adviser
- 2. Obtain your Credit Report
- 3. Have your documentation prepared in advance e.g. Payslips, Accounts, Bank statements etc
- 4. Prepare a monthly budget
- 5. Take your time to make sure you understand the offer being put forward by your Lender