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Top tips for loan approval

Over the last few years it has become much more difficult to get approval for a remortgage – so here are our top tips to ensure that your mortgage application is successful:

  • Ensure your mortgage, loans and credit card payments are up to date. Every lender will carry out a credit check with the Irish Credit Bureau when you apply for a mortgage.
  • Lenders will look for your most recent 6 month Bank statements. So make sure you keep your current account in good order – no missed direct debits and no referral fees.
  • If you have a credit card try to clear the balance on a monthly basis and don’t withdraw cash on the card.
  • If you are getting cash back lenders will ask what purpose you are using the money for and may also look for estimates for any home improvements. Always get written quotes from builders/tradesmen.
  • If you are a credit union customer try to avoid additional top-ups to your loan as lenders can often use this as a reason to decline an application.
Thinking about Remortgaging your home, contact NC Mortgage Brokers to arrange an appointment

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