Expert gives tips on getting a mortgage

02 July 2010

Written by Jeni Browne

One expert has recently given advice to Daily Telegraph readers on how to obtain a mortgage.

Ian Cowie, personal finance editor for the newspaper, has warned that people purchasing property may find it less easy to find a loan, after Adam Posen, a member of the Bank of England monetary policy committee, said that lenders lacked funding and tightening regulations were causing them to become more cautious.

Indeed, head of consulting at Ducalian Timothy Lambert recently commented that mortgage approvals were likely to remain unchanged or dip slightly this year.

However, Mr Cowie has recommended that prospective purchasers must be on the electoral roll in order to obtain a mortgage, as lenders are becoming increasingly concerned about fraud and will want to run checks.

Ensuring their credit records are clean is also a good idea for those looking to buy, as providers will go to credit reference agencies such as Equifax and Experian, he said.

Individuals have the right to see these companies' reports and challenge what is said about their financial history if incorrect information appears to have been used.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.