Prepare for application

There's no shortage of online advice for anyone buying a home, and it's okay to seek advice online, especially if you're in the early stages of your search and just want generic advice. However, as you get further along in your search, and are maybe in a position to make a formal offer for a property, you really should consult the trusted mortgage advice Mortgage321 can offer.

By receiving conflicting information once your mortgage process has started, it could cause you serious problems – namely, your mortgage application could be declined. Having a specialist mortgage broker  on the your side decreases the chance of anything causing your mortgage application to fall through, and the subsequent disappointment that could involve. 

To help you get the right advice on what NOT to do during this time, we've compiled the following list of advice to share with you. None of it is rocket science, but it is still important. 


Things NOT to do before making your mortgage application

  • DON'T change your employment (if at all possible)

  • DON'T make any major purchases

  • DON'T change bank accounts

  • DON'T make any large cash deposits into your bank accounts, even if its for your deposit

  • DON'T transfer any balances from one account to another

  • DON'T close any credit card accounts

  • DON'T consolidate your debt onto one or two credit cards

  • DON'T apply for new credit accounts

  • DON'T max out on your credit card accounts

  • DON'T take out a new loan or guarantee a loan on behalf of someone else

  • DON'T dispute any information on your credit report or add a Notice of Correction

In a nutshell, don’t do anything that may change your credit score . 

If you have any questions, or want to seek more tips and advice on how to best prepare for a mortgage application, please contact us at Mortgage321 today