You want the lowest price possible on your mortgage rate, so if you follow a few basic methods, they will go a long way to helping you find the best deal. If you’re looking for a residential mortgage in Maidenhead, these tips should help:

 Pay your bills on time!

Your credit score is the single most important factor when it comes to getting a cheaper mortgage rate. If you have kept up with all of your bills and payments, it can be your greatest ally when you start looking for the lowest rate possible on a residential mortgage. If you haven’t, your score can make your mortgage rate soar.

 Don’t take on new debts

It counts against your credit score every time you apply for loan or credit card. Each application is listed on your credit report, building up a picture of your financial habits to be seen by every lender you apply to. If you have recently had loans or taken on new credit cards, you may want to wait a while before applying for a residential mortgage so that you can show financial responsibility for those debts. A few points on your credit report can make a big difference when shopping for the lowest mortgage rate.

 Manage your credit cards

Remember that you suffer a penalty every time you have more than half of your total credit line as outstanding debt. Getting the cards paid down is imperative as these penalties can absolutely kill a chance of finding a decent mortgage rate.

 If you’d like help with finding the best rate for your residential mortgage in Maidenhead, Alton Mortgages can help. We’re a whole of the market mortgage broker, which means we can recommend any product on the market, unlike lenders who can only advise you on their own products. For more information, call us direct or visit our main website for more details.

Unless you’ve had your head in the sand for the last few years, you’ll know that the mortgage market isn’t in a good way right now. In general, lenders now lend less, and it’s only the cream of the crop that they target when they do. It’s people who have a large deposit, high incomes and a sparkling credit rating that they are happy to lend to. But not everybody meets this criteria, of course, and if you’re one of the millions who don’t, you should be looking for mortgage advice in Maidenhead from a qualified and independent whole of market advisor. Here’s why:

 1 It’s all about choice – don’t restrict yourself by going direct to a bank or building society. An independent, whole of market mortgage adviser will be able to open up your options – finding deals that may be available to you that meet your criteria. Remember, usually more choice leads to a better deal for you.

 2 Going direct to a bank or building society also means you are more likely to be sold to, even if you see a ‘mortgage adviser’. Of course, they should ‘advise’ you to ensure whichever product they recommend to you is affordable and suits your needs. Don’t forget that they can only sell a limited amount of products related to the bank or building society they work for, and it may not be your best option.

 3 Speak to a whole of market mortgage adviser as they will be working for you. Their sole priority and aim is to represent your best interests. They will look to build a relationship with you, so that, going forward, you’ll use them again.

 4 Be careful about getting declined for a mortgage or any type of credit as it can leave a negative footprint on your credit record. This, in turn, can then lead you to being turned down by other lenders. A professional mortgage adviser is essential in this situation, helping you to decipher your best route to a lender who will accept your application and, ultimately, offer you the best deal.

 5 You need to look long-term – most people have their mortgage for 25 years or more, so a mortgage is not just a one-off transaction, but something that will be with you for years. Start building a relationship with an advisor and you’ll know you are in good hands and can go to them for mortgage advice any time in the future that you should need it.

 If you’d like to know more about mortgage advice in Maidenhead, call Alton Mortgages direct, or visit our main website for more information. We are a ‘whole of the market’ mortgage broker, which means we can find you the best deal for your circumstances across the market, rather than a mortgage lender who can only advise you on their own products.

Since critical illness cover was introduced in the 1990s, both UK residents and insurance companies have felt the bite – and benefits. For those who have survived a critical disease and are unable to work, critical illness cover in Maidenhead has provided a much-needed benefit. But insurance companies hadn’t realised the true cost of claims as the number of purchased policies increased.

 This led to critical illness becoming a necessity to consumers, but also a bane. This is because the premium prices rose so high and people being rejected because of the number of exclusions in covered conditions. That being so, the policy was still a necessity, as it was an affordable way for people to buy protection and to cover expenses should they become ill.

 There was also a trend in policies – around 55 per cent of all claims stemmed from a diagnosis of cancer. And it’s also expected that cancer rates could increase as much as 28 per cent over the next 20 years, with certain forms of cancer rising as much as 70 per cent. So now, insurers are having to prepare for an increase in cancer claims, and may have changed their policies and put restrictions on the types of cancer on which it will pay out.

 So what to look out for? Firstly, redefining conditions. Don’t go anywhere near a critical illness cover plan where the insurer would review the definition of a payable condition once the policy is purchased. This only cheats the policyholder and sets the possibility of payout in the insurer’s favour. Secondly, look over the policy language very carefully. Your possibility of future claims is dependant on the number of conditions that they cover – for example, the more conditions they cover, the more chance you have of a payout.

 Thirdly, look into trustee claims. Make sure you will be able to claim through a trustee on your behalf if you should become incapacitated through a critical illness. Without this, you could have a problem making a claim until a receiver has been appointed.

 If you’re looking for critical illness cover in Maidenhead, we can help you choose the right policy for your needs. For more details, contact us direct by phone, or through our main website.