Our Mortgage Broker Guide to getting a mortgage in Park Royal
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 |
Lower your credit utilisation ratioThe credit utilisation ratio is how much credit you've actually made use of measured against the available credit you've been offered. Your credit score will generally rise the lower this ratio is. As a general rule, it's best to keep this ratio below 50% overall and considerably lower if possible.
If you have more than one credit card you should also be aware of the utilisation ratio overall and per card, because credit reference agencies take all the measures into account. | Joint MortgageJoint mortgages are mortgages where the mortgage is taken out by two (or more) people together in order to buy a property. The mortgage sum granted is calculated according to 2 (or more) incomes and so is a way of getting a larger mortgage than if one person alone was applying for one.
The other side of a joint mortgage is that all of the borrowers are equally joint and severally liable (click to find out more). This means that if, for example, one person defaults on the required repayments, then the lender can pursue all parties on the mortgage to recover the money owed and ultimately it can repossess your home even if you yourself, out of all the signatories on the mortgage, have been making the correct, timely repayments. |
Park Royal is an area of West London and is shared between two London boroughs, namely Brent and Ealing. It has a large business park and has around 500 food companies based in its locale.
It's located very close to the junction of the A40 Westway and the North Circular Road (A406) and the interchange is called the Hanger Lane Gyratory.
It has excellent public transport communications, as it has Park Royal Station (Picadilly Line) and Hanger Lane (Central Line) close by. There are many green open spaces also nearby.