What rules we need to follow while acquiring mortgage in Europe?

For some reason, the myth that getting a mortgage loan in Europe is trivial. As if the bankers themselves chasing potential borrowers, as soon as they descended from the ramp. In reality, everything is completely different. I may not be able to explain for whole Europe but now, to get a mortgage in the UK, you will have to work hard and fulfill a number of immutable requirements explained in this article.

Get a good credit history.

It is annoying, but any little thing can ruin your credit history – overdue payment of the bill, frequent moves from place to place, and even the fact of checking a credit rating. A popular tip for newly minted immigrants is to take a credit card from a bank, even if it is not needed, in order to regularly pay off debts on it and thereby build a positive credit history. This has an undoubted meaning if in the future you are going to apply to the bank for a large loan.

Calculate your budget.

Use a loan calculator like this to estimate your future expenses. Do you have enough money left over after the monthly payments to pay for other mandatory expenses – a private school, utilities, insurance for a car? Since it is impossible to predict the mortgage loan rate in advance. If you give a loan at the highest rate possible.

Document Your income

All banks will want to see your earnings over the past few months. Therefore, you will need to document your income. mortgage brokers in Northampton emphasize people to document their income to show representatives in detail.

Do not change jobs if you plan to take a mortgage.

From the point of view of banks, the longer you work for your current employer, the safer you are as a borrower. It is highly undesirable to change jobs if in the near future you plan to apply for a loan. Most lenders prefer a potential borrower to work at the current place at least 3, and better – 6 months. If you are still on probation, wait for it to finish, so as not to get a turn from the gate.

Get rid of debt

It is unlikely that banks will be pleased with candidates who have impressive credit card debts and other financial burdens. Try to reduce them to a minimum – this will characterize you as a responsible borrower, and, therefore, increase the chances of getting a loan.

 

 

Is Social Media a reliable Platform for Mortgage Advice?

The trend of social media is at its peak and it seems like all business persons are using this platform for the sake of an increase in the profit margin. Well, you may have noticed that mortgage brokers are also active on Facebook and Instagram for serving more number of clients. However, still, some advisers and mortgage experts have kept themselves at a bay because they feel like social media isn’t a reliable platform.  If you do research, you’ll come to know that 70% of the business persons are using social media for leaving an impressive impression on clients.

Social Media is for all!

The most prominent and convincing reason for providing online mortgaging service is that social media is not restricted to any specific community or region. It means whether you are from Northampton, Bristol, London, Leicestershire, New York, or from any other region of the world, the access to social media is absolutely free and unrestricted. So, the experts who provide mortgage advice in Northampton should definitely make an online existence because its process is not critical.

Unlimited Audience!

The mortgage advisers should definitely offer online services because here, at this platform, you are free to offer your services to unlimited people. More on, unlike traditional ways, Facebook and Instagram give the freedom of selling the services to people throughout the world. When a number of people will go through your services, it will become absolutely effortless for you to serve a large number of people.

No Registration Fee!

Unlike other platforms, most of the social media platforms do not require a registration fee and Facebook is at the top of the list for offering free registration. It means that the mortgage brokers can make their business page without paying a single pound. More on, if the people who are of low budget use this platform in a smart way, they can ultimately reap huge benefits.

Paid Campaigns for Advertisement!

The social media offers to advertise according to the budget you can afford. It starts from $6 and offers various paid advertisement strategies. So you can simply choose the budget of your own choice and ultimately, you’ll be able to make the majority of the people aware of your mortgaging services and so, the whole mortgaging process will become an interesting and more profitable thing. More on, Mcrobieadams, a renowned firm is also providing online services for ensuring the ultimate convenience of clients. So, you should also make sure using this platform for selling mortgaging services.