| You can improve your credit-worthiness by: - Staying in one place for two years or more;
- Being on the electoral register;
- Paying off your credit-cards, store cards and video rentals regularly;
- Getting black marks removed from your credit report. Go to CallCredit, Equifax and Experian;
- Paying your bills before the due date;
- Having a credit card or store card;
- Your house or flat not having had previous occupiers with bad credit;
- Having the same bank account for two years or more;
- Being in credit on your bank account (no overdraft, no unauthorised overdrafts);
- Having £57,000 in the bank already!
- Owning property.
Some lenders will offer a UK business mortgage up to seven times your salary. They're not doing you a favour. A mortgage is a big loan that has to be paid back. | General Consumer Tip: TIP: When interest rates fall: Try and leave your repayments the same as prior to the rate drop. This means you will actually be paying more than the minimum each month. You'll repay your loan years sooner. The more rates fall, the sooner you will repay your loan. You will have been paying at the higher rate, so if rates rise again later you may not have to change your repayment. TIP: Pay fortnightly instead of monthly. Many people get paid weekly or fortnightly, so have the e-mortgage payment come out of your account around the same time you get paid. You'll be less likely to miss the money. You will actually save money and pay your e-mortgage off sooner. Divide the monthly payment by two or four and pay that each week or fortnight. BUT, this only works if your outstanding e-mortgage is calculated week to week. Many lenders calculate your repayments as yearly totals, thereby increasing their profits.
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| General Consumer Tip: cost - The most important factor when purchase any item is the cost-price. However, you usually only get what you pay for. Inexpensive item packages are probably not as great as their more expensive counterparts are. Pay for only what you may need. Be proactive and ask for a minimum of three quotes at least, before making a choice.
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