Book Consultation Talk to an Expert Mortgage Questionnaire Mortgage Calculator

Trinity's tips for a successful mortgage application

Tags: Market-Matters

Jun 01 2011

Qualifying for a mortgage can be a complicated affair and many buyers find the process of applying for a mortgage daunting. By getting to know what a lender requires from you it is possible to save time and money, also to increase the chances of being accepted by a bank.

A major difficulty with the banks today is that they constantly change their acceptance criteria. To secure a mortgage you will need a good deposit, a clean credit history and a decent income.

Five times your income

It is still possible to borrow up to five times your joint income, although most lenders lend around four times. One lender will allow up to four applicants to be on a mortgage and they will take all income in to consideration. Mortgage lenders use affordability models to calculate how much you can borrow. If you are applying for a loan and in a position to repay your debts, then you should consider repaying them. Bonuses Many lenders will take bonuses in to consideration, but some are more generous than others. For example, the Royal Bank of Scotland will only take 25% of any bonus in to account and ING Direct will not accept annual bonuses at all. Trinity Financial has access to a lender that allows 60% of a bonus to be used as part of your income. Deposit The bigger your deposit, the lower you monthly repayments will be. You will need at least a 10% deposit to qualify for an affordable mortgage and to access the lowest rates you will need a minimum deposit of 25%. Key tips for getting a mortgage include:

Making sure that you do not miss any financial commitments. Missing a credit card or loan payment will count against you
Reducing your personal debt will enable you to borrow more
Ensuring you do not apply for credit while your mortgage application is going through
Keeping pay-slips and P60's
Checking your rating and knowing what your credit score is
Ensuring you are on the electoral role

Call Trinity Financial for expert mortgage advice on 020 7520 9427. June 8, 2011

As seen in

Get in touch

To arrange a meeting with one of our expert mortgage advisers complete our enquiry form or mortgage questionnaire and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

You voluntarily choose to provide personal details to us when submitting an enquiry. Your information is confidential and held in accordance with the appropriate data protection requirements. Read Trinity Financial's privacy policy.

Your first name: *
Your last name: *
Your contact number: *
Your email address: *
Your preferred date: *
Your preferred time: *
How can we help you? *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Other ways to get in touch

020 7016 0790

enquiries@trinityfinancialgroup.co.uk

Whatsapp 077805 31022

Mortgage Questionnaire

155 Upper Street, Islington, London, N1 1RA

Google Reviews

We believe that working together is the best way to gain trust, reliability and certainty.

years' experience

Over the last 16 years we have helped thousands of clients to purchase new homes, secure buy-to-let mortgages and remortgage.

mortgage experts

Trinity’s experts will do everything possible to secure the fastest mortgage offers while providing you with regular progress updates.

17,844

mortgages arranged

We consistently arrange fantastically priced fixed and tracker rate mortgages through the leading banks and building societies.

Trinity's tips for a successful mortgage application

Get started today

Get in touch

Other ways to get in touch