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    ey can meet your needs beforehand. Better still, work with a mortgage broker who will have many lender contacts and will be able to guide you to a lender that meets your needs.

    Undertaking Big Purchases / Commitments Prior to Your Mortgage Loan Application - People can be forgiven for thinking that it is best advice to g

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    It is a common occurrence that mortgage applications are refused because of simple mistakes. Here are some of the most common traps people fall into when looking for a mortgage loan. Take some time to digest them; you may well end up saving a small fortune on your mortgage.

    Unsure how much Deposit to Apply - The more money that is put down or used as a deposit for house purchase, means the less risk for the lender so invariably interest rates are cheaper. Don’t over-stretch yourself too much though and stay within your financial means.

    Mortgage Broker Track Record - It is well known within the mortgage industry that most mortgage loans fail to go through. Ask your mortgage broker about their past performance and track record and if they provide any guarantees.

    Lacking Understanding of the Mortgage Process - Obtaining a mortgage loan is not something we do everyday and can be forgiven for not fully appreciating the processes involved. Try and work as close as you can with your mortgage broker who should be able to take the time to explain the issues in layman’s terms and answer any questions you may have.

    Limited Option Lenders - Not all lenders will be able to offer a full range of mortgage products. Before working with a lender try and ascertain if they can meet your needs beforehand. Better still, work with a mortgage broker who will have many lender contacts and will be able to guide you to a lender that meets your needs.

    Undertaking Big Purchases / Commitments Prior to Your Mortgage Loan Application - People can be forgiven for thinking that it is best advice to g

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    y that is put down or used as a deposit for house purchase, means the less risk for the lender so invariably interest rates are cheaper. Don’t over-stretch yourself too much though and stay within your financial means.

    Mortgage Broker Track Record - It is well known within the mortgage industry that most mortgage loans fail to go through. Ask your mortgage broker about their past performance and track record and if they provide any guarantees.

    Lacking Understanding of the Mortgage Process - Obtaining a mortgage loan is not something we do everyday and can be forgiven for not fully appreciating the processes involved. Try and work as close as you can with your mortgage broker who should be able to take the time to explain the issues in layman’s terms and answer any questions you may have.

    Limited Option Lenders - Not all lenders will be able to offer a full range of mortgage products. Before working with a lender try and ascertain if they can meet your needs beforehand. Better still, work with a mortgage broker who will have many lender contacts and will be able to guide you to a lender that meets your needs.

    Undertaking Big Purchases / Commitments Prior to Your Mortgage Loan Application - People can be forgiven for thinking that it is best advice to g

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    il to go through. Ask your mortgage broker about their past performance and track record and if they provide any guarantees.

    Lacking Understanding of the Mortgage Process - Obtaining a mortgage loan is not something we do everyday and can be forgiven for not fully appreciating the processes involved. Try and work as close as you can with your mortgage broker who should be able to take the time to explain the issues in layman’s terms and answer any questions you may have.

    Limited Option Lenders - Not all lenders will be able to offer a full range of mortgage products. Before working with a lender try and ascertain if they can meet your needs beforehand. Better still, work with a mortgage broker who will have many lender contacts and will be able to guide you to a lender that meets your needs.

    Undertaking Big Purchases / Commitments Prior to Your Mortgage Loan Application - People can be forgiven for thinking that it is best advice to g

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    ry and work as close as you can with your mortgage broker who should be able to take the time to explain the issues in layman’s terms and answer any questions you may have.

    Limited Option Lenders - Not all lenders will be able to offer a full range of mortgage products. Before working with a lender try and ascertain if they can meet your needs beforehand. Better still, work with a mortgage broker who will have many lender contacts and will be able to guide you to a lender that meets your needs.

    Undertaking Big Purchases / Commitments Prior to Your Mortgage Loan Application - People can be forgiven for thinking that it is best advice to g

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    ey can meet your needs beforehand. Better still, work with a mortgage broker who will have many lender contacts and will be able to guide you to a lender that meets your needs.

    Undertaking Big Purchases / Commitments Prior to Your Mortgage Loan Application - People can be forgiven for thinking that it is best advice to get large purchases out of the way before committing to a long term mortgage. However, total debt relative to income is a key ratio when lenders are assessing applications and it is probably best therefore to leave such expenditure until after your mortgage has been agreed and drawn.

    Analysis Paralysis - We all would like the best interest rate possible and this should be your goal. Bear in mind that every application you make to a lender will result in a credit check; too many of these will affect your credit rating. A mortgage broker will be useful here as with their inside knowledge of the market and the lenders they have on their books will negate the need for processing applications purely to establish interest rates.

    Hiding the Facts - Many people have experienced financial difficulty at one time or another. The temptation is to hide such facts from your broker or mortgage loan lender but they are there to help you obtain your mortgage and these difficulties can be overcome, especially if they are known upfront and do not subsequently come out of the woodwork.

    Late or Bad Payment Record - A bad payment record, especially within the previous year can have negative effect when trying to get the best mortgage loan terms and interest rate possible. Indeed, it could easily lead to a refusal of

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