Well, if you have got quite some personal loans which are active, and you have also fallen behind with your payments…you need to do something. Before buying property, it is extremely important to reduce the amount of outstanding debt and repair your credit score. If you would like to get professional help on how to reduce your debts easily and quickly, just look for good local estate agents in Tiptree– at BairstowEves. The experts here will analyze your case and will ensure to bring to you solutions which are truly tailored to suit your needs. When you are talking to alender about a possible loan or mortgage in order to buy a house, the first thing he will ask for is your credit score.
Now, if there are too many outstanding debts, especially personal loans which you did not pay on time, this automatically means a huge risk for the lender. Therefore, he will either reject your loan, or he will tailor a loan for high risk borrowers: Very high interest rates. High extra charges and fees for late payments. Overall expensive loans. Since you have these outstanding debts, you canhardly afford to repay such an expensive loan. Sooner or later you will end up in the trap of another huge debt. This is why it is so important to discuss with a financial expert and see how you can work first on reducing these debts.
Then when your credit score is better, you can go to a lender and ask for the best mortgage or loan which will come with: Generally low APR. Fixed rates for even up to 5 years. Flexible terms and conditions.
Sometimes no late payment charges. Contact the office of Bairstow Eves real estate agents- check it out here for more useful information.
Estate Agents in Tiptree 