Mortgage Advisor

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Mortgage Advisor

Independent Mortgage Advice Bureau

Independent Mortgage Advice Bureau provides a one-stop mortgage information and application service, offering impartial advice on everything relating to mortgages and the home buying process, including life assurance, critical illness and income protection. We have branches in Buckinghamshire, Hertfordshire, Bedfordshire & Middlesex and appointments available in London West End and City.

Housing market - April 2008

Although Halifax Plc recently reported that house prices fell by 1.3 per cent in April, the UK housing market is strong and remains well supported by a number of fundamentals according to the National Association of Estate Agents (NAEA), which said that homeowners must not panic. The NAEA is confident that things will pick up due to the underlying factors that support the UK property market such as low unemployment, historically low interest rates and a continuing demand for houses. This would indicate a return to a more steady market rather than the large price increases seen over the last ten years.

Don’t Get Bitten by the Credit Crunch

The housing market may be slowing down, but here are some useful tips to help ward off the Credit Crunch.

Wise words for credit handling

Make sure you keep a good credit report; a direct debit for paying your credit cards is a good way to guarantee this.
If you have several payments with different dates you may want to consolidate all your debts into one easy payment. If you’re looking for a new mortgage, reducing your number of credit cards to one could also make you more appealing to a potential mortgage lender.

Careful checks to your credit report

Make sure that your credit report is an accurate account of your financial situation and payment history. It is vital that this is precise, as information will be passed on to potential lenders. This will include information on all credit accounts that you hold. If you discover that some of this information is incorrect, you will need to have this rectified with the relevant company, as this could deter a lender from offering you a loan. Something as simple as making sure that you are registered to vote at your current address could really add valuable points to your credit score.

When shopping pays

Due to high rising prices of utility bills this year, make sure that you spend some time shopping around for the most competitive suppliers. Whilst looking for the best possible deals, you may want to consider turning thermostats down slightly, having showers rather than baths and making sure you turn off the power on appliances as opposed to keeping them on standby. These simple actions will help minimise your utility bills and also help reduce carbon emissions.

For more help and advice on beating the credit crunch why not contact Independent Mortgage advice Bureau on 01494 510501 or email bob.rixon@imab.net

Bob Rixon
Director
Independent Mortgage Advice Bureau (Buckinghamshire) Ltd.
Tel: 01494 510501
Fax: 01494 510383