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New hope for home buyers
The number of mortgages available in the market has increased
By: Adaptive Affinity
There are now 390 different mortgages available to borrowers with a 20% deposit, compared to just 97 in February 2009 - plus 560 loans for people with 15% to deposit, and 214 for borrowers with just a 10% deposit. On the flip side, this does not necessarily mean lenders are more willing to lend to these customers, and only a limited number of these mortgages are likely to be approved based on the banks' current lending levels.
However, it does show signs that the lending climate may now soon be improving. And so if you are applying for a mortgage, it pays to make sure there are no hitches in the process. One simple way is by checking your credit report before you apply, with www.creditratingmatters.co.uk - and seeing the different elements held in a credit report. Credit Rating Matters is a membership programme which provides access to a Callcredit credit report and credit score. These credit tools are provided by the credit reference agency Callcredit, and may provide an insight into a person’s financial positioning in the eyes of lenders.
This way, you can see exactly what the mortgage lending companies can see about you. You can check that there are no outstanding credit payments, credit applications falsely made in your name, nor any history of missed payments. The lender will be checking all of these things, so County Court Judgments or any of the other factors above may well affect their final decision.
What's more, each application made leaves what's known as a ‘footprint’
Membership with Credit Rating Matters provides unlimited access to ones Callcredit report and score, so anyone can monitor their financial position. Once details are successfully verified, people can view their Callcredit credit report as often as they like. The report will update periodically and reflect changes in financial activity. So why not take advantage of the Credit Rating Matters free 10 days trail membership. Visit www.creditratingmatters.co.uk to see if it’s for you.
To learn more about what Credit Rating Matters can do for you, visit www.creditratingmatters.co.uk or call us on 0845 026 1093