If your bank or building society have turned down your mortgage application it means you don’t fit their lending criteria.
Your mortgage application is assessed against the lender’s (that’s your bank or building society) list of requirements for people it will lend to. If your mortgage is declined it means you didn’t tick all of their boxes. Every lender assesses applications differently. For example, one lender may require three months bank statements, another only one month. Some won’t lend if you have been in your current job for less than a year, others will.
That’s why a mortgage decline is not the end of the road. You just need to find the lender whose criteria you meet. This is why it can be helpful to use a mortgage broker like Just 4 Mortgages, as we are familiar with every lender’s criteria and will be able to match you to the mortgage firm most likely to accept your personal circumstances.
Here at Just 4 Mortgages we always recommend you use a mortgage broker. This is especially true if you have had a mortgage application declined. We know the market and know what lending criteria every firm has. This means they can match you to the right lender for your personal circumstances.
We can also help you assess your previous application and work out where you went wrong. If you want support you can book a Free Initial Consultation via our online booking system.