First time buyers
OK, so where do I start, how much can I borrow?
I'm worried about my credit rating, what I can do to improve it?
Other things you can do to improve your credit rating:
- Get yourself on the electoral roll
- If you’ve never had any debt at all, think about getting a credit card for specific purchases, like petrol and paying it off every month. This gives you a bit of a track record and shows that you can manage debt well.
- Avoid pay day loans – these do NOT help with your track record and are seen very much as a negative.
- Be wary of credit searches – general insurance e.g. buildings & contents can leave a credit search so if you do a lot of quotes in a short space of time this can negatively impact your credit score
Right, and what happens when I've found my dream home?
Once you’ve had the decision in principle, (an agreement from the lender to lend X based on your credit score and subject to proof of income), you can start looking at houses. There are a few key steps after that, including the formal mortgage application, valuation, exchange of contracts and then completion.
We are here to help you at every stage though, so you never have to worry that you’ll forget what to do!
What documents will I need for the formal application?
The sooner you can get all of your paperwork to us the better. You’ll need:
- Proof of ID – Passport or drivers licence,
- Proof of address, dated within three months e.g. utility bill
- Three months of personal bank statements, showing income going in
- Three months of payslips or 2 years of business accounts or self-assessment tax returns. (We do have access to lenders who will do it with only one year)
- A credit report
- Proof of deposit – e.g. current account or savings account statement
- In formation on your monthly financial commitments e.g. food, utilities, child care fees, maintenance, credit cards, loans etc.
Why should I use The Financial Detectives as my broker?
- We have access to the whole market, so we can find the best deal for you.
- We have individual contacts with every single lender, so good communication is a given
- We’re a family run business, and you’ll have an individual contact that you can talk to whenever you want
- We have contacts with solicitors to help you move things along quickly
- We don’t get paid until the case completes so we have as much incentive as you to get your case completed!
Did you know?
“Over 50% of our clients are referrals from other customers we have helped… we must be doing something right!”
We are currently Closed at the moment. Our opening hours are 9am-5pm Monday - Friday.
K & C Hichri, 2017