What Home Can You Afford? #shorts

Why It Matters

Credit scores materially affect both access to mortgages and the cost of borrowing, so managing credit and finances can expand purchasing power and reduce long-term housing costs. For prospective buyers, this can determine whether homeownership is affordable or out of reach.

Summary

Lenders typically estimate mortgage eligibility by applying income multipliers to household earnings, but the actual amount you can borrow also hinges on personal circumstances, outgoings and your credit report. A strong credit history not only increases the likelihood of loan approval but can secure more competitive interest rates and higher borrowing limits. Many first-time buyers underestimate how much their credit score influences both the size of the mortgage and monthly repayments. Improving your credit profile could mean you are closer to affording a home than you think.

Original Description

Before you start scrolling the portals.. do you know what you can actually afford? 🏠

With rates rising and lenders tightening criteria, getting the numbers right has never been more important. Watch the full video on the First Home Focus YouTube channel before you make any decisions

🔗 https://bit.ly/497AAde

First Home Focus is in association with Skipton Building Society

#MortgageAdvice #FirstTimeBuyer #FirstHomeFocus #BuyingAHome #MortgageAffordability