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9 of the best ways to improve your chances of getting a mortgage

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A key factor behind the credit crunch, were mortgages that were easily available and once the global banking system started to implode, it was one of the first things to give. Lenders cracked down on loan-to-values and tightened up criteria, making it hard for all but the most angelic homebuyers and remortgagors to get a loan.
Lenders have warned that they expect to offer fewer mortgages this year than before the financial crisis, although things are improving. So how do you increase your chances of being one of the approved few?

1. Your credit score matters
Get a copy of your credit report which is held by credit reference agencies, before applying for a mortgage. This will allow you to see what lenders see when they review your application. Try to improve your credit rating If it isn’t looking that great. Ensuring you are on the electoral roll and closing down credit card accounts which you no longer use are some of the simple things you can do which can give your score a boost.

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