Save yourself time and money by following this comprehensive checklist of what to effect before purchasing a propertyWork out how much you can borrow
Since 2014,mortgage lenders possess been limited to lending no more than 4.5 times your annual salary on most mortgages – although some lenders are offering up to six times. When calculating how much you need to borrow, bear in intellect interest rates are low, and could rise. Check your credit rating
It pays to improve your credit rating if you can. Accounts registered to old/wrong addresses can injure your credit score badly and earn borrowing harder,so right any errors/out-of-date information. Setting up direct debits to pay your bills and making sure you’re on the electoral register earn a big difference to your score. It’s best not to apply for other loans or credit cards in the flee up to applying for a mortgage.
Continue reading...
Source: guardian.co.uk