Our Mortgage Broker Guide to getting a mortgage in Milford
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 credit report for any issuesGetting a recent credit report will show you how your credit worthiness is viewed by lending companies. This is particularly worthwhile if you haven't already done so and have been turned down for credit.
Depending on what you find on your file, you can take action to improve your credit, principally by ensuring you make timely repayments on existing credit you have taken out. Every application for credit you make which is turned down will in turn negatively impact your credit score. | Repayment MortgageResidential home buyers take out repayment mortgages, which involve making monthly repayments where part of the payment goes towards paying for the interest on the loan and part goes towards paying down the capital. At the end of the term, normally 25 years, assuming all payments are made correctly, the mortgage is fully paid back so the ex-mortgagor then holds the full equity of the property involved.
The act of developing more equity over time has the advantage that any future remortgaging should be cheaper in future and applications more likely to be successful. |
Milford is a large village in Surrey County in Waverley Borough, with villages Witley, Elstead and Eashing nearby. The village has some excellent independent shops as well as a cricket and a football pitch.
The nearest larger urban areas are Guildford and Aldershot.
Attractions nearby include Winkworth Arboretum, a protected hill and countryside area with a National Trust garden, and the beautiful Watts Chapel, built by a local artist, which is in Down Lane, Compton.