We know everyone wants a low rate mortgage but the truth is depending on what you call “low rate” not everyone can!  The deal you get regarding low rate mortgages is down to your credit rating as if lenders believe that there is a chance of you defaulting on the agreement, they will charge you a higher rate to mitigate risk.

With the credit crunch and lack of credit available many lenders are being stricter with who they offer their low rate mortgages to.

Very generally speaking, the better your credit rating, the more you have to put down as a deposit or the more equity you have in your property, the better the chance of getting a low rate mortgage.

One of the first steps you should take to getting a low rate mortgage is to obtain your credit report and show it to one of our mortgage advisers to see if you will qualify for a low rate mortgage. Obtaining your credit report early in your mortgage search process is essential to lower the amount of credit searches undertaken.  As every credit search you make has an adverse effect on your credit score.  Speak to a mortgage expert about this by clicking here.

Mortgage Borrowing Calculator

To check how much you can borrow.  Please click here to use our unique Mortgage Borrowing calculator.