First Time Buyer: Increase Your Chances of Being Approved

If you’re a first time buyer looking to apply for your mortgage, there are a few things that you can do to increase your chances of being approved. 

Pay Your Bills on Time

Missed or late payments can affect your credit so stay on top of them to prevent problems down the line.

If your bills come out before payday and you think you may struggle to pay your bills, see if you can move the payment date.

Do Personal Admin

Don’t forget to update your address or other details related to your bills.

This can avoid you missing any bills that come in the post and when submitting documents to lenders, it will have your latest address on the documents.

Manage Your Credit

Building your credit score is a good to prove to lenders that you’re a good borrower. You can do this by spending a little amount on a credit and paying it back on time.

If you believe that you have bad credit, there are a few ways that you can improve your credit score.

You can check your credit profit on a number of websites but we recommend CheckMyFile, you get an accurate overview of your credit profile. You can sign up for a free 30 day trial

*CheckMyFile will go to a third party website which Amplo Mortgages has no responsibility for any of the content on the website.

Don’t shop around too much

Completing multiple mortgage applications can affect your credit score as lenders may see this as you’re desperate for credit. If you’re looking to see how much you can borrow, you can use mortgage calculators, these give you an estimate on how much you can borrow based on the information that you provide it.

Use a mortgage broker

We have a strong understanding of lenders’ criteria and have access to a large panel of lenders, some of who will only work with brokers. A broker like ourselves will make the process as stress free as possible for you.

If you would like to speak to a member of our team about your mortgage, don’t hesitate to call us on 01270 443510 or complete our enquiry form and we’ll be in touch as soon as possible.