ADVICE COLUMN: Lanarkshire mortgage broker gives five top tips for first time buyers

dailyrecord.co.uk:

Hello and welcome to this month’s advice column.If you’re a first time buyer and looking for a mortgage then this handy guide of our five top tips will increase your chances of securing a successful mortgage application when the time comes.This column looks at what you should do before you apply for your first ever mortgage.The Lanarkshire Live app is available to download now.

Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you.Head to the App Store and never miss a beat in Lanarkshire - iOS - Android 1. Check your credit score and profile.

Your credit profile plays a crucial role in the mortgage approval process. You can check your credit report using a credit reference site such as Check My File for any current or historic issues such as defaulted payments or arrears over the last six years and tell your mortgage broker about it as soon as possible.

They can advise on what mortgages may be possible even with some issues showing and guide you on what to do to rectify it to help your case.2. Think about a deposit, whether this is a gift from a family member or from your own savings and additional costs such as legal fees well in advance.