Why Mortgages Might Be Agreed In Principle Then Declined

Getting your mortgage Agreed in Principle (also known as a Decision in Principle or AIP) is an important step towards finally getting into a new home, but the relief of getting an AIP can be short-lived if you then get turned down when applying for the actual mortgage. That’s the sad reality for a number of people who get an Agreement in Principle: they find the perfect house, go through with a full application and... fall at the final hurdle.

The best credit score for a mortgage

A lot of customers come to checkmyfile because they plan on applying for a mortgage – your Credit Report is, after all, a key component in lender decision making. But often the question is raised: "what Credit Score will I need to get a mortgage for my dream home?”

Signs of relaxation in the UK mortgage market

Figures released by UKFinance.org have revealed that, UK wide, mortgages for home-movers grew 1.8% in volume and 5.4% in value between September 2018 and 2019. Similarly, first-time buyers enjoyed more mortgage opportunity with lending growing 1.6% in volume and 5.0% in value.

Aspects of Mortgage Lending Decisions

The vast majority of mortgage providers keep their lending criteria a closely-guarded commercial secret, which makes figuring out your chances of getting accepted for mortgage tricky, though a mortgage broker may be able to point you in the right direction based on your credit history.

Getting a Mortgage After Changing Jobs: Is It Possible?

When you apply for a mortgage there are probably nuggets of advice you’ve heard time and time again to make sure you increase your chances of getting accepted; like using a credit card to build up a credit history if you haven’t borrowed much in the past, or getting an agreement in principle to give you an idea of how much you’re likely to be able to borrow.

Can You get A Mortgage With A Default, CCJ or Arrears?

Even for homeowners that have been through the process before, applying for a mortgage can be a lengthy and often stressful process. For anyone with a history of adverse credit, it can be even more disconcerting - especially if you’re not sure how negative information on your Credit Report such as late payments, Defaults, or Court Information might affect a potential mortgage lenders’ decision.

How your credit file could help you get a good mortgage deal

How to use your credit report to get a great mortgage deal in 2019

There have been plenty of reasons to get people thinking about making that first leap onto the property ladder in recent months, including Help to Buy schemes, the removal of stamp duty charges for about 95% of first time buyers and an increase in affordable houses being built.

Am I More Likely to Get a Professional Mortgage?

Before the Credit Crunch of 10 years ago, finding a mortgage valued up to 95% or even 100% LTV and at more than five times your salary level wasn’t difficult - in fact it’s since become clear that it was too easy and was a financial disaster waiting to happen. As such, mortgages have become harder to get accepted for then, with stricter regulations coming into place ensuring that mortgages are only granted to those who can truly afford them.

Last minute mortgage checks

When could a non-bankrupt person be considered bankrupt? When they’re buying a house.

Guarantor loans can affect mortgage applications, lenders warn

Guarantor lenders are always keen to point out that you don’t need a credit check to take out one of their loans, just a friend or family member who has a good credit history that is able to act as a guarantor. For those with a poor credit rating, this type of loan provides a solution to a problem – they can afford the loan repayments but are unable to get credit due to prior adverse credit history.