Boosting Mortgage Acceptance Chances 

Key Steps to Optimising Your Mortgage Acceptance Chances 

1. Credit Score Optimization

• Register on the electoral roll. Yes you read that right, registering to vote helps lenders confirm your name and address and this information helps to boost your credit score. To register you need a National Insurance number, Previous addresses, and ID verification. 

• Remove financial associations with ex-partners. You can do this by closing or converting all joint accounts associated with your partner.  Some proof your financial link has ceased is a good start to achieve this. Lastly, contact credit bureaus like Experian,  Experian, and Transunion to request a "notice of dissociation" on your file. 

To achieve this,

- Check all three credit reports

- Identify outdated links

- Submit disassociation requests

- Follow up after 30 days

• Maintain perfect payment history.  We have made a quick list of payment priorities in to boost your score.  

Priority Order:

1. Mortgage payments

2. Council tax

3. Utility bills

4. Credit cards

5. Store cards

6. Mobile phone contracts

2. Affordability Proof

Gather income documentation.  Primary income documentation is required for mortgage acceptance. These are Salary packaging, commission documentation, bonus history, overtime records, and bank statements. This information is required for mortgage lenders to assess your affordability for mortgage loan repayments. 

Complete money makeover.   We want to introduce you to a strategy to help boost your finances and remove any red flags on your transaction history. 

Red Flags to Eliminate:

- Gambling transactions

- Payday loans

- Overdraft usage

- Buy-now-pay-later services

- Bounce payments

It helps to have a saving pattern monthly, this is perceived positively when bank statements are submitted for mortgage assessment. 

Are you a first-time buyer, are you looking to remortgage or a product transfer ?  Check the links below