As 2015 gets under-way attention moves to a new home for the new year, five star house-builder Barratt, which has homes available at its Nursery Fields development in Havant, is urging home-buyers to get mortgage fit now to secure the best mortgage deals available.
Changes brought in in 2014 under the Mortgage Market Review have caught some buyers unaware but by being proactive and following a series of simple practical steps, potential house-buyers can make themselves more attractive to mortgage providers and that means not only getting a mortgage but getting a cheaper rate as well.
Barratt sales director Michelle Storer said that it wants to help buyers make themselves as attractive as possible to a mortgage provider and has compiled its top tips to making yourself mortgage fit.
“We are urging home-buyers, whether first time buyers or those further up the chain, to take a series of practical steps to make themselves more attractive to lenders,’’ she said. “Being mortgage fit not only means winning the race to buy the home they really want, it also means getting the very best interest rates.’’
She said there are a series of practical tips home-buyers can take to improve their credit score – the key factors that mortgage lenders will look at when deciding whether to offer a mortgage.
“Our top tips give customers the inside track on how these decisions are made and what action home-buyers need to take. Credit scoring can be affected by things that many people simply wouldn’t consider, such as missed payments to not being registered on the electoral roll.â€
Michelle said that lending criteria now also means that potential buyers need to provide a clear picture of their finances, something which will put them in the best position for a swift mortgage assessment and offer.