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Before you head off to meet a financial advisor, get your finances straight first and look at our guide to help you prepare.
Lenders are now scrutinizing bank accounts and spending habits to make sure they are lending responsibly. You can increase your chances of borrowing the amount you want by proving that you are responsible with your spending and have anticipated your future spending costs.
You will be asked about current loans and credit cards, regular payments like child maintenance or other responsibilities. If you are able to pay off any loans or credit card balances then take the time to do so, it will all help in the long run.
Make a list of what you have spent on food, clothing, eating out, travel costs, utility bills and current rent/mortgage payments, holidays – everything. The lender will look at the last three months bank statements, with some going back six months – you will need to be able to explain irregular payments and ideally keep within any arranged overdraft facility.
Speak to an independent financial advisor who will be able to give you the most up to date information and maximise the chances of you being offered the mortgage you need.