So I've missed a few mobile phone payments over the years...but I earn a good salary, I'll easily get a mortgage!
If you are looking to apply for a mortgage this year or in the not too distant future, it's a worthwhile exercise to check out your credit report as it could save time and distress further down the line. Why? Because when you apply for any sort of credit - and a mortgage loan is likely to be the largest amount of money you ever borrow – it’s not just about having a reasonable salary or self-employed income - lenders are looking for historic evidence of your ability to meet your repayments. So having missed payments recently or indeed in the past, can have a negative impact on your credit score.
During a time when successfully applying for a mortgage isn't as easy as it used it be, it's worthwhile being extra vigilant with all your financial responsibilities and agreements and really get on top of your finances so your credit score is in the best shape possible. Our two dedicated mortgage advisers have helped hundreds of clients over the years overcome all sorts of obstacles, so if you are in any doubt over your viability, please give us a call on 0131 303 0053 to chat it through.
So if moving home is on your agenda, we highly recommend that checking out your credit score is too.