3 mortgage tips for first-time buyers

If you’re hoping to get on the property ladder, you can boost your chances of success with these hints from Dilpreet Bhagrath, mortgage expert at Trussle

1 Sort out finances ‘Mortgage lenders want to see you can manage your money,’ says Dilpreet. ‘They do this by looking at your credit score. You can check yours online for free. If you have adverse credit, it will limit the number of lenders available to you and will often mean a higher interest rate. If your credit rating isn’t up to scratch, you can improve it by making sure you pay all your bills on time.’ 2 Be realistic ‘Work out exactly what you can afford, allowing for costs like stamp duty and solicitor fees,’ she adds. ‘Talk to a mortgage broker, they’ll estimate how much you will be able to borrow. This will help to avoid any disappointment later on.’ 3 Shop around ‘More than a third of all first-time buyers go directly…

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Woman's Own (Digital) - 1 Issue, 15-Apr-2019

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