When you see a mortgage advisor to begin discussing the purchase of a house, they will need to run various checks on your finances and the mortgage advisor will do a credit check.

At TW Mortgages, in order to know how much you can borrow from a lender, we will run through a fact finding process and perform affordability calculations across a vast range of lenders. We can quickly find out how much you can borrow according to your personal circumstances so you can begin hunting for your dream house!

However, in order for you to begin putting offers down on desired houses, you will need an ‘Agreement In Principle’ (AIP) from a lender. This is a document from a mortgage lender confirming that you will be able to borrow a certain amount.

Getting your AIP involves a credit score check by the mortgage advisor which will help verify your borrowing potential. To the lender, a credit score check is great insight on your financial situation and previous borrowing habit. To the seller, an AIP is important as it proves you can afford to buy their property and make a dependable offer. 

But do not worry if you have poor credit! You can still get a mortgage with poor credit, however it’s important to note that your home may be repossessed if you do not keep up repayments on your mortgage.

At TW Mortgages, we strive to find the best deal on the market to suit various financial circumstances so do get in touch so we can see how we can help your mortgage needs.