Contrary to those age-old myths, you don’t need (1) a perfect credit rating, (2) the lowest interest rate or (3) your current bank.
A poor credit history won’t help – but it certainly doesn’t make getting a mortgage impossible. Specialist lenders exist to offer mortgages to people with more complicated credit histories.
A low initial rate does not automatically lead to a cheaper mortgage in the long run. Tracker or variable rate mortgages allow the rate to change, which means a higher fixed rate could end up cheaper in the long term.
You don’t need to get a mortgage from your current bank. In fact, it’s a good idea to compare multiple providers – that’s where we come in!
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments