Some Help With Getting The Best Mortgage

Some Help With Getting the​ Best Mortgage.
If your credit rating is​ bad,​ you​ can take steps to​ improve it .​
This is​ a​ bureaucratic chore,​ but can save you​ hundreds,​ if​ not thousands of​ pounds .​
Getting a​ mortgage is​ so stressful,​ and getting a​ house so desirable,​ that people want to​ get it​ over with quickly .​
So they sign up to​ bad deals .​
Then their marriage breaks down two years later .​
The drip-drip effect having no money at​ the​ end of​ the​ month is​ quietly corrosive.
Improve your credit-rating .​
Find out what it​ is​ at​ Equifax,​ Experian,​ TransUnion and/or CallCredit .​
Lenders may access them all .​
Then do the​ following:
- Make sure you​ are on​ the​ electoral register.
- Satisfy liens and public judgements,​ such as​ in​ the​ County Court (CCJs).
- Correct errors,​ including erasing judgements older than seven years .​
Paid-off debts can be legitimately recorded up to​ seven years after settlement.
- Close unneeded accounts .​
Close them off _slowly_,​ not all at​ once .​
Keep only two credit cards .​
These should include your oldest card,​ as​ that has the​ longest credit history associated with it.
- Pay off credit cards .​
Keep balances low,​ and paid off on​ time.
- Open a​ savings account at​ your bank.
- Keep your debt low; below 75% of​ available credit.
- Build a​ good payment history .​
Pay your bills on​ time!
Then do something unusual; go for a​ walk in​ a​ green area and think over whether you​ need a​ mortgage at​ all .​
If you​ do,​ what do you​ want it​ to​ do for you?
What you​ could do to​ get the​ property you​ want,​ without signing over half your income for the​ next thirty years?
Some options are:
Self-build: Are you​ up for the​ challenge of​ building your own home? If you​ have a​ site,​ you​ can put a​ 'kit house' on​ it .​
This is​ one whose design has been tried and tested,​ and which can be put up quickly .​
There are innovations coming out in​ house building all the​ time; consider taking advantage of​ them,​ and saving some money.
Buying and letting: Buy a​ place,​ do the​ minimum to​ tart it​ up,​ and rent out a​ room .​
You need to​ watch out for taxation of​ the​ rental income,​ but it​ could get you​ a​ bigger place,​ or​ a​ smaller place paid-off faster.
Buy At Auction: This is​ a​ popular idea,​ but problematical in​ practice .​
You have to​ factor in​ the​ auctioneer's fees,​ and the​ phenomenon of​ 'auction fever'; some newbies get very excited at​ an​ auction .​
They bid way over the​ value of​ the​ property .​
Also,​ hardened auction-goers buy houses the​ way you​ or​ I​ buy a​ pair of​ shoes .​
They buy 'em,​ tart 'em up,​ then flip them on,​ often for quite a​ small profit .​
This makes for tough competition.
It's best to​ get pally with an​ estate agent,​ and take your time .​
These guys get wind of​ the​ best deals,​ and notify their friends first .​
You might get lucky,​ and get a​ great house,​ at​ a​ good price,​ from someone who has to​ sell in​ a​ hurry.

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