![]() ![]() Lenders have different policies regarding overtime, bonuses, commissions, and allowances in their calculations. Income - how much you earn and what type of employment you are in.Mainstream banks may reject bad credit applications. Credit history - if you have adverse credit, you may need to apply to a specialist bad credit lender.Your Loan to Income ratio - with the standard cap on mortgage lending being 4.5 times your annual income.Higher LTVs are higher risk and less easy to be approved for, so the higher the deposit, the better. The Loan to Value - how much you wish to borrow against the value of the property.Lenders will consider multiple factors, including: Evidence that you have your deposit ready.Filed accounts or tax returns if you are self-employed.Initially, you might not need all of your documentation, but this is always required to back up the information provided before a formal offer to lend can be made. You will need to provide outline information such as: We strongly advise seeking help from an experienced broker who will select the best lenders to send your application to and structure it to ensure you have the highest chances of approval. If you don't fit that specific lender’s criteria, you will be automatically rejected. ![]()
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