Donald Skinner

Welcome to my blog


Hello, my name is Donald and I would like to welcome you to my new blog.  I am recentl;y retired from a career in real estate and I hope to be able to blog about my passions and new found (!) hobbies.


I am really looking forward to retirement and I hope that comes across in my blog.

By donaldskinner, Apr 26 2014 12:45PM

There are many reasons as to why people need to get a mortgage. The reasons range from the need to have some property to the need to hold money for speculative purposes, But let’s face it, getting a mortgage nowadays is a difficult thing; this is why you should always think about ways you can boost your credibility because this put you in good position to be offered a mortgage when you seek one. One of the ways you can do that is to invest in bonds. If you are starting out and have not built well on your creditworthiness with the banks to a trusted level, you can invest in bonds, which usually pay on your annuities almost immediately. This increases your income tremendously thus ensuring that your bank balance show that your income is steady and reliable. This ensures that chances of you defaulting on any loan are brought to a minimum consequently boosting your credit worthiness.

You should also concern yourself with ensuring that you reduce the debt to income ration as far as you can. Most banks will accept a debt to the income ratio of close to 43%, if it gets greater than this, then your chances of getting a mortgage are much reduced as it portrays your inability to pay the debts you accrue each time you borrow. In order to ensure that you beat this loophole, regularly opt for cheaper loans and other financing methods that the banks may offer. Consistently take as much as you need and no more. Always ensure that you take that which you are convinced you can pay back, and once you begin making capital gains, concern yourself with ensuring that your debt is settled. This will reflect in your bank statement thus putting you in good light.

Even if you experience a lot of income fluctuations, ensure that you try as much as possible to generate more savings as much as you can. This will be beside the fact that you should repay loans always. Being in private business, you can experience a lot of changes in your income throughout doing business, but if you are forever making savings each time you experience capital gains you will put yourself in a position where your bank can begin to trust you with their money. You should also focus on boosting your net income each time you receive a mortgage. Try to avoid a lot of costs in your levy charge have your accountant see if they can adjust your taxation to reflect a positive image with the bank officials. Besides that, try to stick with one bank to build a good rapport with them.

Go here for info on conveyancing or selling your home.

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