Mortgage advice from an Independent Broker: Nouveau Financial

We know that buying a home, either as a first-time buyer or an experienced homeowner, can be a very stressful process. Whatever your circumstances, you’ll want a mortgage that is affordable, has a great interest rate and flexibility to allow for changes in the future.

Whether you are house-hunting or just thinking ahead, Doncaster-based independent financial advisors Nouveau Financial have compiled five mortgage advice snippets to help you get on the property ladder.

 
Get mortgage ready

Taking out a mortgage is a huge commitment, so make sure that you do the maths and are certain that you can afford to do it. It helps to get your finances in order, as lenders will ‘stress test’ your affordability to ensure that you can make your repayments.

Register on the electoral roll

This is a very simple step that ought not be overlooked. Registering adds a note to your credit file as additional proof of your residency.

Save regularly

Regular savings can be tracked on your bank statements so if you’re saving a bit each month or a lump sum over a year, you’re proving to lenders that you don’t spend all your income. It can help show the mortgage provider where your deposit has come from and assure them that you can manage your money well. However, you need to save sensibly to make sure that you stay out of your overdraft!

Improve your credit rating

If you have a poor credit score, it’s important to take the time to build it up. It won’t happen overnight, but sensible, regular borrowing and repaying on a credit card can prove you are careful with money. Make sure you never withdraw cash with a credit card, as this makes you look like you can’t stick within your budget.

Don’t forget about the extra costs

Applying for a mortgage is a huge step in anyone’s life, and with so many factors involved it can be quite overwhelming. When budgeting for the big purchase, it’s easy to overlook the arrangement fees, legal fees, stamp duty, valuation fee, insurance and moving costs. However, with an experienced financial broker, these costs will be factored in from day one.

 

Finding the right mortgage deal for you can seem like navigating a minefield, so it pays to get financial advice from a mortgage broker you can trust. Call Nouveau Financial on 01302 230900 or email hello@nouveaufinancial.com.

 


About Nouveau Financial

Nouveau Financial Limited, founded by mortgage and protection experts Joe Daniels and Jessica Phillips, have over 20 years’ experience in the financial industry. Working with over 60 different lenders, over 350 clients and completing 156 mortgage applications, your mortgage, protection or insurance application is in safe hands with Nouveau Financial.

Nouveau Financial offer a fresh and dynamic approach to financial brokering and pride themselves on providing tailor-made services to their clients. Striving to make a genuine difference to their client’s lives, dedication to excellent customer service is at the forefront of Nouveau Financial’s mission.

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