When it comes to buying a property or remortgaging in the UK, most people don’t think about mortgages until they’ve already found a home. Or their current deal is nearly up. But, by then, the clock is ticking, and options can be limited. Speaking to a mortgage broker around six months before you’re ready to move gives you breathing space, and often, a much better outcome.
Give Your Credit Time to Shine
Lenders want to see a solid track record, not just a last-minute tidy-up. I’ve seen clients surprised by old defaults or forgotten credit cards that popped up on their file. By starting early, you can deal with these issues well before they become a stumbling block. Six months is usually enough time to make meaningful improvements.
Protect Yourself from Rate Rises
The mortgage market moves quickly, sometimes overnight after a Bank of England announcement. For example, those who secure a deal months in advance can find themselves with lower repayments, saving thousands. Even with rates slowly decreasing, you (or we) never know what is around the corner. So, it’s so good to have rates locked in, and we can always change them if the rates continue to drop.
Know What You Can Actually Afford
There’s nothing worse than falling in love with a property only to discover it’s beyond your borrowing limit. A broker can run the numbers in advance so you know exactly what you can afford. If your budget needs adjusting – maybe cutting back on certain commitments or tidying up regular spending – six months gives you time to make those changes.
Get Ahead with Paperwork
If you’re self-employed or a contractor, you’ll know that paperwork is half the battle. Lenders can be strict about accounts, tax returns, and income evidence. Starting early means no last-minute panic to dig through old files. Everything’s ready to go when you need it.
Walk Into Viewings with Confidence
Estate agents and sellers take buyers more seriously when there’s an Agreement in Principle in place. It shows you’re prepared and able to move quickly. In competitive areas like London or Manchester, that can give you the edge over other buyers.
Getting a mortgage broker involved six months early puts you in control. You’ll have time to improve your credit, secure a good rate, sort your paperwork, and approach the property market with confidence.
Thinking about buying or remortgaging in the UK? Get in touch today for a free consultation, and let’s plan your mortgage journey together.
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Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.