Mortgages for anyone can be confusing, especially for young people or first time home-buyers. There are several common misconceptions or myths when talking about mortgages. Here we will set the record straight and bust those mortgage myths.
It is NOT true that you have to be an existing member of a bank to get approved for a mortgage. Mortgage applications are assessed on a case to case basis. Being established at a bank already does not affect the outcome or make you more or less likely to get approved. Existing members also do NOT get better agreements.
Having evidence of gambling will NOT exclude you from being able to get you a mortgage. Having several transactions to online gambling websites may raise some concerns to lenders but occasional transactions will not strike your eligibility and will not be held against you.
It is NOT impossible to get a mortgage if you’re self-employed. Many people think if you’re self employed it is challenging to get a mortgage and a home. Being self-employed does not exclude you from being approved from getting …