Deal Directs top tips for 'the' successful best buy mortgage application.
For most borrowers, navigating the complex mortgage market to find 'the' best buy mortgage deal can be daunting. As lenders tighten their lending criteria and adapt their offerings, those looking for a deal are advised to contact a mortgage broker to help with the search.
Deal Direct mortgage brokers are well placed to help borrowers find a best buy mortgage deal for their circumstance, there are things that borrowers can do for themselves to make their application more attractive to lenders.
Borrowers are recommended to secure a good credit rating. For those who do not have a personal loan or an overdraft facility or a credit card, financial experts recommend they apply for at least one credit card. The cards should be used for monthly spending and any balance should be paid off in full at the end of the month.
Lenders want to see that borrowers have been given access to credit in the past and that they have handled it well, a lender wants to know a borrower is a safe bet and will repay their mortgage as agreed.
Borrowers looking for best buy mortgage deals are recommended to prepare any necessary documentation prior to applying to a lender. Documentation will be required to prove a borrowers identity, their most recent P60 will also be needed along with their last three months payslips.
Most recent bank statements will also be required by mortgage lenders along with any other documentation to support proof of other income and details of outstanding loans and credit cards. Lenders need to see that the amounts advised on the payslips actually match the amounts that are paid into the borrower's bank account.
Deal Direct would ensure that they do all they can to make your application as smooth and as easy as possible to guarantee lender approval.
