1= Have your salary mandated to your bank account.
2= Keep your payslips and proof of Bonus - you may need up to 12 months payslips if you have irregular income or overtime.
3= If you are self employed or a Company Director you are likely to need SA302s from HMRC. You can get these by calling 0300 200 3310. Make sure you keep the covering letter -some lenders need this too. SA302’s should show your income from employment, income from dividends, income from property and interest on savings.
4= Avoid payments to online gambling sites etc, your bank accounts are going be scrutinised for affordability and lifestyle choices. Look at what your bank statements say about you. You may need to produce unto 12 months of statements. If you have bills etc paid from one account and salary into another you will need to produce both sets of statements.
5= Reduce credit limits on Credit cards and store cards if you are not using them. The amount of credit you have access to can reduce your borrowing capacity.
6=Ensure that payments to credit cards and loans etc are always paid on time, Set up a direct debit if you are likely to forget or be on holiday when your payment is due, late payments effect your credit rating.
7= If you are using an overdraft this will reduce your borrowing capacity even if you have savings elsewhere to cover it. An overdraft is a form of debt.
**Your property may be repossessed if you do not keep up repayments on your mortgage
Joanne Ramsden (Director) Joanne Ramsden Financial Solutions Ltd. www.Joanneramsdenfs.co.uk. A fee of upto £395 is payable on application and is non refundable. We will also be paid commission from the provider.