11 Kasım 2007 Pazar

Do you need an adverse credit mortgage

Check your credit status
Before you apply for a home loan, look up your credit record. You can order a report online, by telephone or request it by post from credit agencies Experian (www.Experian.co.uk) Equifax (www.Equifax.co.uk) or MycallCredit (mycallcredit.com)
A Statutory Credit Report costs £2 and is a good indication of your status, although all three agencies charge extra for more detailed information if you want regular updates or for early warning signs of credit fraud.
Mortgage lenders automatically check your credit history when you apply for a mortgage. If there is any incorrect information on your file, like a debt listed as unpaid when it has already been cleared, you can tell the credit agency to erase it.
Importantly, don’t be tempted to apply for a mortgage to see if you get turned down. Each time a lender refuses you credit it shows up as a black mark on your record making it more likely other lenders will refuse you credit.
However, if your credit record is poor, the next thing to do is find out how serious it is and shop around for the best deal through a mortgage adviser.
Minor debt? – lenders who may consider you
Birmingham Midshires
Bristol & West
Irish Permanent
Hanley Economic BS
Leeds BS
Nationwide BS
Principality BS
Stroud & Swindon BS
The One Account
Yorkshire BSWeblinks: www.standardlife.com www.thecheshire.co.uk

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