9.7.19

Building a Dream Home Starts with a Mortgage: How to Improve Your Borrowing Potential


There are many things you need to create the perfect home. One of the first and perhaps most important is the home itself. Without a property to call and then make your own, you won’t ever have your dream home. Of course, a house doesn’t automatically become a home but, as a foundation, bricks and mortar are required.

Now, unless you’ve got thousands in the bank, you’ll need a mortgage. Here at Adventures of a Yorkshire Mum, we’ve got plenty of reviews. Unfortunately, when it comes to financial products, it’s not easy to try before you buy. In other words, you can’t test a mortgage and then give it back. Because of that, we need to outsource. Fortunately, with the internet being what it is today, you can get an acute insight into the mortgage market before you make a 25- or even 35-year commitment.

Don’t Skimp on Reviews
For a quick and easy overview of the latest mortgages, expert reviews should be your first port of call. The type of reviews you need to take note of are those that cover every angle. For example, reading through Trussle’s breakdown of RBS mortgage rates, you’ll notice that it looks at current deals and recent offers. In addition to looking at rates, the review also tells you how much you could potentially borrow, a customer service score compared to the national average and even the size of RBS's market share.

When you’re buying a new dress for £20, a quick rundown of a few facts is probably all you need. However, when you’re sizing up a six-figure investment, you need to give it more than a glance. Therefore, if we can offer you one piece of advice it would be to read mortgage reviews that delve as deep into the products and lenders as possible. Once you’ve got an insight into what the market offers, it’s time to compare. As well as comparison engines becoming more prevalent online, they’re smarter than ever.

Smarter Software Makes Big Decisions Easier

Using sophisticated algorithms, prospective borrowers can now get better results. The reason mortgage calculators now offer better suggestions is that they process live data and learn on the job. As artificial intelligence and machine learning software become more advanced, comparison engines gradually refine their results. Because they can process huge amounts of data, they’re able to profile lenders and success rates. Based on these data sets, they can make assumptions such as X type of lender is most suited to Y products because of previous results.

Naturally, when it comes to applying for a mortgage, there are no guarantees. Your chances of being accepted will always depend on market forces, personal circumstances and an institution’s lending criteria. However, if you can arm yourself with the right knowledge, use the latest tools available and

have a strong hold over your finances, getting a mortgage and building a home isn’t as hard as you might think.

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