The majority of providers offer GB fixed rate professional mortgages of up to a maximum of 95% of the value of the property, or its purchase price, whichever is lower. | General Consumer Tip: How can YOU get the BEST deals on e-mortgages?
Answer:
- Do some research.
- Get written quotes from four brokers.
- Improve your credit rating.
+ Don't just pick a company out of a newspaper. Ask friends. Use the internet! This is a major purchase. It makes sense to spend a bit of time shopping around.
+ Verbal quotes are not worth the paper they're printed on; get them in writing, and get more than one.
+ You can improve your e-mortgage credit rating by only having one or two credit-cards, for example, and paying them off on time. Get rid of lines of credit you don't need.
+ The smaller you can make your loan, the better. Loans, like credit-cards, are an expensive way to get money. If you can beg or borrow from friends or relatives to bulk up your money-at-hand, do so. You'll feel a lot happier if you're only paying a few hundred, rather than a grand, a month.
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I get a lot of calls from people whose credit is bad, or who have CCJs (County Court Judgements) against their name. What can you do if this is the case?
Well, you can try to erase or ameliorate these black marks. First you check what a provider might find out about you, when they do a credit check. Go to Experian and Equifax. Order your credit report from BOTH sites, as there may be different entries in each. | General Consumer Tip: Be a little generous in your business dealings. You can gain a thousand pounds of good will for just a few quid. People are so mean these days; always chasing after the last few pennies. Thus, when someone says 'keep the change', or 'have a bit extra', we are surprised and delighted. It's so unexpected, and human. In an increasingly mechanised world, this counts for a lot. So leave something in the pot for everyone; you'll make more friends, and have a happier life.
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