It can be rough to secure a home loan, so we asked some of our mortgage broker friends, what are some of the secrets to endearing yourself to them?
This is what they told us:
· Avoid payday loans like the plague
· Put all expenses on a credit card and pay it off
in full at the end of each month. This makes your bank account look healthy and
lenders won’t see where you spend your money when they look at your bank
statements.
· Put all credit cards on a direct debit to avoid
the risk of missing a payment
·
Reduce any other borrowing
· Make sure you don’t exceed any overdraft limits
· Pay off loans and credit cards from savings so
it is not considered committed expenditure
· If you are self employed, talk to your
accountant about maximizing your verifiable income at least 12 months before
making a mortgage application
· Set up a file that contains 12 months’ bank
statements and at least 3 months worth of pay slips or at least 3 years worth
of tax returns, if you are self employed.
· Don’t spend money on betting- lenders don’t look
kindly on it
Need a property loan?
Contact us @ propertyloans@realrenta.com and we will arrange
for our broker Jon to contact you shortly.
Marlene Liontis
Saturday, 7 September 2019