Thinking of buying a property in the UK, now or at some point in the near future, then speak to a mortgage adviser well ahead of time so that you can be fully prepared for the process and the inevitable requirements.
Buying a property can be daunting at any stage, whether it is your first purchase or whether you have bought property before. However, the process can often be even more challenging when you work on a yacht and have a contract in a non-sterling currency.
If you are contemplating a purchase, and are currently in the process of saving towards a deposit, there are a number of things you could be doing or looking into to make the purchase and mortgage process as easy and straightforward as possible.
To help, our mortgage experts have produced some basic guidance notes, which in most cases will help make the process as simple as possible, and will generally increase your chances of getting a mortgage. If you are not already aware, the mortgage options for yacht crew paid in a non-sterling currency are limited, so putting yourself in the best possible position can make all the difference.
Credit File – Having access to your credit file is recommended, even if you do not have or have never had any debts. The recommended service is provided by checkmyfile as their credit report covers multiple credit reference agencies
Electoral Register – Are you on the Electoral Register at your current UK address. This can help with your credit score when getting a mortgage. If you are not on you can register at Gov.uk
Manage your debts – Keep well below credit card limits. Close dormant or inactive accounts
Keep credit up to date – Set up a direct debit on things like credit cards to pay the balance off each month, or at least the minimum payment
Using the basic help guidance from our mortgage experts will put you in a stronger position when you find a property and need a mortgage to buy it.
CrewFO are able to offer you access to an experienced mortgage broker who fully understands the challenges that can be faced by yacht crew needing a mortgage in the UK. The advisers can discuss your individual situation and your future plans with you at no obligation.