Our Mortgage Broker Guide to getting a mortgage in Blackburn
The mortgage application process has 4 stages regardless of which mortgage lender you use:
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Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Check your scores with all 3 credit reference agenciesThe 3 companies – CallCredit, Experian and Equifax – all use different methods to derive your score: you should therefore check all 3 to find out what points they've given you because you don't know which agencies a lender will check with. <>/div> The additional benefit is that credit reference agencies occasionally do make mistakes, for example keeping an address on file which has become obsolete. You should always work quickly to make mistakes as you may end up being unfairly penalised and this can spiral, with resolution becoming a complicated matter! | No Deposit MortgageNo deposit mortgages enable you to get a 100% loan to value ratio on your mortgage, i.e. the lender grants you a mortgage which covers the seller's full purchase price with no deposit required from you.
These mortgages normally work by requiring an associate of yours (often a family member) to leave some money in an account for a set period of time with the account being controlled during that time by the lender. If you default on your repayments, the lender has recourse to the money in the linked account, which the associate risks losing. Another method is requiring an associate to put up their house as security in case you default.
Interest rates on these products are likely to be higher than normal. Click on No Deposit Mortgages to find out more. |
Blackburn is a cathedral town – known as a minster – and an industrial town in Lancashire just south of the Ribble Valley. It's been associated with the wool industry since the 13th century until the decline which accompanied deindustrialisation in the mid-20th century. The town received significant investment and redevelopment since 1958, both from the European Regional Development Fund and the government more generally.
Landmarks and attractions in the area include Blackburn Cathedral (formerly St Mary's Church); Ewood Park, which is the home of Blackburn Rovers Football Club; the Wainwright Bridge, Corporation Park and Witton Country Park.