Category: credit search

Be aware of who is credit searching you, and when.

We have had a few customers contact us for a mortgage who have been totally unaware that they have had a number of credit searches carried out following recent searches for competitive renewal quotes on their home or car insurance via Comparison Websites.   I’m sure it will be stated somewhere in the small print, but […]

With Open Banking now available, don’t give the lenders a reason not to lend.

There’s been a lot of talk recently about new technology, especially regarding the new ‘open banking’ opportunities and how your private transactions will come under scrutiny by lenders decision making computers, after you’ve given permission of course! The idea is that the lender can review your incomes, outgoings and all other financial items just from […]

The mortgage process is pretty straight forward, whatever your scenario.

Arranging a mortgage can take time.  But actually, the process, regardless of whether you are a first time buyer, home mover or simply re-mortgaging, will be roughly the same.  On any new purchase, the selling agent will seek to agree a number of deadlines with you, including the arrangement of mortgage finance. At this point […]

Lenders will look at your bank statements.

When applying for a mortgage, there’s no shying away from the fact that lenders look at bank statements!  Whether it be paper based or via the new ‘open banking’ technology, your private transactions will come under scrutiny. I’ve mentioned it many times over the years in my columns and highlighted that whatever is in your […]

If the credit score computer says ‘no’, you will tend to find most high street lenders doors shut.

I haven’t mentioned it for a while, but it certainly is causing a lot of customers an issue.  Credit scoring!  This is an assessment on all available financial information and calculates a ‘score’ for the lender.  It also includes a search on your overall credit history covering, in the main, all of your financial transactions […]

Try to not give lenders any excuses to decline your application

Getting a mortgage application through a lender in the current climate can be challenging.  One day it appears relatively easy, yet the next, it’s a nightmare!  So whatever you do, try to not give lenders any excuses to decline your application or refuse to lend to you.  Try to pay bills on time, don’t miss […]

What if ‘the computer says No’?

A flurry of activity in the mortgage market this week as a number of lenders reduce their rates.   Virgin Money, Natwest, Accord Mortgages and Platform are a few of the lenders who have cut various rates in their product offerings.  This follows decreases in both LIBOR and SWAP rates (in the main, measures against which […]

House prices up 2.2%! Positive news!

The Halifax House Price Index suggests that house prices increased 2.2% in March. They reportthat the average house price now sits at £163,803. A spokesperson commented that the end of the Stamp Duty holiday period for First Time Buyers at the end of March probably helpedto increase sales and support prices. A mortgage is the […]