Homebuyers in County Durham urged to get 'mortgage fit'Barratt Homes is urging property-seekers in the north-east to get "mortgage fit" this summer to avoid the disappointment of being beaten to their first home.
To help FTBs the homebuilder is allowing access to the government-backed NewBuy scheme at Burton Woods in Spennymoor.
Barratt is urging north-east property-seekers to ensure their credit rating is up to scratch to ensure they can access the initiative by checking with either Experian or Equifax.
Understanding limits is also highlighted as a way to make sure buyers can access the best deals. Keeping credit card usage under 30 per cent of the limit will help as anything above this may be seen as excessive debt.
Getting onto the electoral role may seem unrelated to getting a mortgage, but it is in fact important for first time buyers.
It indicates that a buyer has a "stable" lifestyle, is in full-time employment and lives at a fixed address, all of which boost prospects of achieving a medal.