At some point in our lives many of us will take out a mortgage. That wonderful, confusing and terrifying loan that lets us, eventually, own our very own home. And with the current property market and housing crisis in Ireland, it seems more important than ever to take that first step to becoming a property owner.
The idea of applying for a loan strikes fear into the heart of first time applicants, and it can feel like banks and mortgage brokers needlessly make the whole process convoluted and complicated. There’s nothing worse than finally making it through all the necessary paperwork only to be turned down. That’s where CleverMoney The Financial Experts come in. Their team have more than 50 years of experience in the finance industry and are expert mortgage brokers. They can help you get mortgage ready so you can take your first steps onto the property ladder.
CleverMoney The Financial Experts
CleverMoney The Financial Experts are independent brokers, and utilise their years of experience, knowledge and training to offer you the very best financial advice and products that make sense for you and your pocket. Their advisors will listen to your needs and requirements, your plans and goals and offer you professional and friendly advice. They strive to help you understand the key processes in mortgage application and simplify any confusing terminology or requirements.
This experienced team know what criteria lenders look for and have offered their top tips to improve your chances of mortgage success.
How to get Mortgage Ready
It may seem obvious but you should have secure employment, ideally in a field or industry that is relatively safe from fluctuations in the economy. Lenders prefer full-time permanent positions, but in certain circumstances may accept a long-term contract. They are also more favourable if you have held your position of rover a year.
2. Money Management
It is crucial that you show evidence of regular savings. Mortgage lenders want to see that you have the discipline, and the disposable income, to save on a regular basis. They will assess our ability to meet the repayments based on your ability to make rent payments (if you have previously rented) or your regular payments into your savings account. Additionally, your current account should be in good shape. Lenders look closely at how you spend your money, so while it is okay to have an overdraft, you should not be using it.
3. Credit History
Lenders like to see a clean credit history. They want to see that you made regular payment on any previous credit, and that you were not, and are not in debt. While you should have a history of a few personal loans it is recommended that you don’t have a high level of borrowing when you apply for a mortgage. If you do have any short-term loans it is best to pay them off before starting the mortgage process.
|Address||Curragh View, Balinagar, Tullamore, Co.Offaly, R35 XF38|
|Telephone Numbers||1890 942979|