Mortgages and you're Credit History

Bad marks on your credit history can lead to an increased interest rate as well as added arrangement costs for the of the mortgage or loan. These are things you really want to avoid.

The Mortgage Costs

All of the mortgage companies will have a variety of different options and interest rates. Your goal is to find the company that can offer you the best service for the lowest price.

You want the exact prices, not estimates. If the company can't give you the exact cost of all the fees up front, it would probably best for you to take your business somewhere else.

You're Mortgage Options

It is also important to make sure you aren't brow-beaten into signing any final agreements.

Be very aware of any lender(s) who try’s to get you to borrow more money than you actually need.

If they try to pressure into getting the mortgage, it generally means that they are more interested in making money, than helping you get the best mortgage deal for your needs.

If you don't understand certain terms of the agreement ask for a copy so that it can be reviewed by a solicitor.

Mortgage Integrity

Always make sure that you provide accurate information on your mortgage application, even if the mortgage adviser urges you to be creative with the data.

If a financial adviser does ask you manipulate the data, they should be reported to the FSA (Financial Services Authority).

At the final stages make sure you read the document before signing it. Don't let anyone rush you into making a quick decision.

A mortgage is one of the most important contracts of your life, and you can't afford to deal with an unethical lender.

Making a mistake when choosing a mortgage can lead to years of financial trauma.

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