Top Tips for a Quick Mortgage Approval
Speak to an Expert Advisor
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
22.08.2024
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
22.08.2024
1. Get Your Financial House in Order:
Before approaching any lender, make sure all your finances are in good shape. This means ensuring you have a healthy credit score, no outstanding debts, and a consistent income. Lenders like to see stability, so the better your financial standing, the quicker the approval process.2. Have All Documents Ready:
Ensure you have all necessary documents like payslips, bank statements, and proof of ID. A missing document can delay the whole process. Before making an application, give us a call on 📞 01925 711558, and we can guide you on exactly what you’ll need.3. Understand How Much You Can Borrow:
Before applying, it’s wise to get an idea of how much you can realistically borrow. This helps set expectations and speeds up the process. Ascot Mortgages can provide you with an initial assessment, helping you to understand your borrowing potential.4. Consider a Mortgage in Principle (MIP):
An MIP is a statement from a lender saying they’d be willing to lend you a certain amount. It’s not a guarantee, but having one means you’re seen as a serious buyer, and it can accelerate the actual mortgage application process.
5. Stay Within Your Means:
While it’s tempting to aim for the top end of your budget, it’s always wise to be realistic. Applying for a mortgage that’s within your means not only increases the likelihood of approval but ensures you can manage repayments comfortably.
6. Avoid Major Financial Changes:
Until you’ve secured your mortgage, avoid making major financial decisions such as changing jobs or taking on large debts. Lenders favour stability and any significant changes can impact their decision.
7. Consult with an Expert:
This is perhaps the most crucial step. Having an experienced mortgage advisor like those at Ascot Mortgages ensures you’re presented with the best options tailored to your needs. Our advisors stay updated with all changes in UK mortgage law, ensuring a smooth and efficient process. To start the conversation, email us at 📧 [email protected].
Securing a mortgage approval can be a swift process if you’re prepared. Ascot Mortgages is dedicated to ensuring that your mortgage journey is as smooth as possible. Let us help you make informed and empowered decisions about your mortgage’s future. After all, a property isn’t just an investment; it’s a place you call home. We look forward to assisting you on your property journey.
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Based on a mortgage of £300,000 at 75% LTV and 25 years
| Speak with Us | Interest Rate | Mortgage Type | Monthly Repayment Amount | Total Fees | Max LTV |
|---|---|---|---|---|---|
 | 3.79% | Fixed | £1,174 | £30 | 75% |
| 4.09% | Fixed | £1,198 | £0 | 75% |
| 4.12% | Fixed | £1,210 | £1,499 | 75% |
| 4.24% | Fixed | £1,224 | £1,025 | 75% |
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Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT
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