1. Make sure you are on the electoral register and that your name and address details are correct. Visit www.gov.uk

 

2. In this highly competitive market it is essential to be prepared. Your Blackstone adviser can help you to agree a ‘mortgage in principle’ which will be viewed most favourably by both estate agents and vendors and could make the difference in securing your property.

 

3. Collate your paperwork - 3 months bank statements, 3 months payslips, P60. If you're self-employed, call the HMRC and order 3 years SA302’s and Tax Year Overview documents.  

  

4. If you are a sole trader or company director your loan application will really benefit from professional advice before you begin the process. Your Elm Tree Financial adviser could help prevent a declined application which would negatively impact your credit rating.

 

5. Check your credit file for mistakes - use CreditExpert, Noddle and Equifax. Correct any problems well before you apply for a mortgage.

        

6. Build up some credit history if necessary - getting a credit card and then paying it off by direct debit in full every month will help improve your credit rating.

        

7. By taking professional advice you can focus on the right place to apply for your loan. Making a number of credit applications will register credit searches on your name which could adversely effect the way lenders view your application.

        

8. Ensure all your financial documentation and correspondence show your correct name and address. Mis-matches can cause delays.

        

9. Many lenders are now looking much more closely at 3 - 6 months bank statements so it is good if you can prove sound financial management. This also means not exceeding any credit card or overdraft limits.

        

10.Try to reduce any accrued debt you have. Your outstanding financial commitments will be taken into account by lenders when they assess your mortgage application.

         

11. Continuity of address history for at least 3 years is preferred by lenders.  

        

12. Take advice from the experts before making any applications. Elm Tree Financial Services offers professional expertise and advice as individual as you are.