We can help you find your perfect mortgage today...

Telephone: 0800 9701795

0800 9701795

The latest mortgage eligibility checker

Posted on Friday 26th October, 2018

There has been more innovation in the last 18 months, than in the last 18 years in the mortgage industry, and this new tool, the mortgage eligibility checker is an interesting development

https://creditmatcher.experian.co.uk/mortgages/search

Anything that gives the buyer more information has to be a good thing.

However, on reviewing this new tool, we would advise some caution.

This new tool looks like it sits somewhere between robo advice (where a computer / algorithm tells you the likelihood of you getting a mortgage) and a comparison site.

As experienced mortgage advisors our concern would be twofold.

How many people fit in to standard boxes?

Lots of people move jobs regularly and have changes in circumstances. What happens if the criteria says you need to have been in your job 6 months and you have only been there 5 months?

A broker would know which lenders are happy with that and could argue by the time the case was offered you would have been there 6 months. A computer, on the other hand, would just say no.

The other concern would be how comprehensive over the range of mortgages the results are.

It may not be commonly known, but many comparison sites sell on data, and the person buying that data may not be provide a comprehensive range.

Therefore, you may not be offered the best possible deal.

So, in summary, we think this new eligibility checker is certainly a handy tool and worth taking a further look. However, we still strongly believe that speaking to a broker that offers a comprehensive range like ourselves, will ultimately save you time and money.

As mortgage brokers we will not only find the best financial deal but will also do all the hard work for you!

  • No forms to fill in, we do it all for you.
  • Research all the best deals from a comprehensive range of lenders on your behalf.
  • No more sitting on hold to the lender, we do it for you.

Don’t hesitate to drop us a line to book a no obligation consultation.


Contact Acorn4mortgages

0800 970 1795

terry@acorn4mortgages.co.uk


Contact us now Let us help you with your mortgage needs →


Our Other Services
What we need to tell you

Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee for mortgage advice will be charged on completion of your mortgage. This fee will typically be £300 up to a maximum of £500. We will receive commission from the lender in addition to the fees you pay. We also offer a fee only option of £1,000 – any commission received would be refunded if you choose this option.

Get in touch

Tel: 0800 9701795
Email: office@acorn4mortgages.co.uk
Skype: acornmold
Fax: 0870 762 7535

Facebook: facebook.com/acorn4mortgages
Twitter: @acorn4mortgages

The Legal Stuff

© Acorn4Mortgages Limited. Registered address: 1-3 The Mall, Ambrose Lloyd Centre, Mold, Flintshire, CH7 1NR. Registered in England & Wales under number 4270415. Acorn4Mortgages - Privacy Notice.

Acorn4Mortgages Limited is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service. You may be able to submit a claim through the EU Online Dispute Resolution Platform if you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.