Kevin McCarthy's column looks at what you should do before you apply for your first ever mortgage.
If you’re a first time buyer and looking for a mortgage then this handy guide of our five top tips will increase your chances of securing a successful mortgage application when the time comes.Download the Lanarkshire Live app today The Lanarkshire Live app is available to download now.
They can advise on what mortgages may be possible even with some issues showing and guide you on what to do to rectify it to help your case. 3. Before you start looking for your first home, secure a ‘Decision in Principle’. This requires you to have an initial appointment with a mortgage broker who will get a good understanding of your personal and financial information, such as employment status, income and any credit commitments like credit cards, loans and car finance which will help determine a likely borrowing amount.
The great thing about using a mortgage broker to arrange your mortgage is they’ll take the stress and hassle away from you, deal with the lender directly on your behalf as well as advising you on the best deals available for your circumstances. Going to your bank first may mean you don’t get the best deal on the market tailored to your own situation.
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