Buying a house in 2016 – getting accepted for a mortgage.

Almost two years on, and UK banks and building societies have just about got to grips with the new mortgage rules, which were introduced in April 2014. 

For the last couple of years getting a mortgage has been tougher, and this is not likely to change.

The need to have your finances in order, go through a lengthier application and pass in-depth affordability interviews, is necessary if you are to get a mortgage today.

Getting a residential mortgage is tough, but up until now this has not been the case for buy to let deals, which have been easy to achieve. This is set to change because the market for non-professional investors will undergo regulation from April. The same affordability checks will apply as with residential mortgage deals, and many looking to become landlords maybe refused. The advice for buy to let mortgage applicants, is to get a move on and get a deal in the next 3 months.

For those looking for a mortgage to buy a new home in 2016 or remortgage to a lower rate, the advice is to get your finances in order, and get help from an independent mortgage broker who can search through every lenders’ range to find the best deal.

By using an independent expert, you can avoid the pitfalls in searching for a mortgage. Today there is so much information you need to provide to lenders, and knowing how to present this in the best light is vital.

To improve the likelihood of mortgage acceptance in 2016, speak to an independent adviser at Deal Direct.

Why choose us?

• We can search every lenders’ range to find the best deal.
• We can advise you on what you need for your application.
• We can help you complete your application.
• We are with you through every stage of the process to help increase your chances of mortgage success. 

For advice and a quote call 0800 048 8828.