Have You Been Declined For a Mortgage in Hull?

Mortgage Advice in Hull For Difficult Situations

Every mortgage lender is different, they each have their own way of deciding who gets accepted and who doesn’t. Some lenders criteria are hard to match and some aren’t, it depends on how strict they are and how good your credit score is.

Often we see that mortgage applications are declined due to a customer not meeting the right criteria. We believe that this really highlights the value of using a Mortgage Broker in Hull, like ourselves. We work hard to get you the correct lender for you and your circumstances (first-time, if we can help it!)

How can I avoid disappointment?

Firstly, before you apply, you should check your credit file to see if it’s looking good, if not, you may need to try and improve your credit score. There are lots of different ways that you can do this, however, we always recommend that you speak to a Mortgage Advisor in Hull before anything.

Generally speaking too, only a small number of people are realistically eligible for every deal on the market. This means that most of the time, people are searching for the wrong deals. Just because you have seen a cheap deal, doesn’t mean that you will qualify for it.

As a Mortgage Broker in Hull, we advise that before you rush into anything, either do some research into the different types of mortgages available or get Mortgage Advice in Hull.

Get in touch and receive a free mortgage consultation today.

What are other applicants doing?

Another common occurrence is customers using price comparison websites to find a mortgage. There is nothing wrong with this, although, you need to remember that the price comparison websites can’t match you to all the nuances of a lenders criteria.

Time can be wasted, as it can be weeks down the line of an application sometimes when a mortgage lender finally declines a case. Consequently, this can result in you losing your property and/or breaking down a chain. You may also find yourself getting declined because of picking the wrong mortgage, which in turn could end up leaving a negative mark on your credit score for a failed application.

Reduction in loan amount

Customers may be eligible for certain deals, but only at a reduced amount that allows them to match the criteria. This seems to happen regularly, at first the lender says that you can borrow a certain amount and then further down the line they change their mind and find a way to reduce the mortgage available.

As we mentioned before, lenders are all different and they each have their own way of doing things. There is sometimes a huge difference between lenders and it’s very unlikely that you are going to match all of them. You need to narrow down your options and find out which is the best mortgage option for you.

Your Mortgage Broker in Hull is here to help

Whether you’re a First Time Buyer or Moving Home in Hull, we think that you will find our Mortgage Advice service highly beneficial. Not only will we support you through the whole mortgage process, but we will also try to find you an amazing mortgage deal for your personal and financial circumstances.

We have dealt with thousands of specialist mortgage cases and have secured mortgages for customers who thought that they never had the chance. Approaching a Mortgage Broker in Hull, like Hullmoneyman, will allow you to get an up-to-date credit report too and we will work with you and match you to the most appropriate mortgage for you!

Have a specialist mortgage situation? Not a problem! Get in touch today with your local Mortgage Broker in Hull for a free mortgage consultation. Please refer to our reviews for more information about our amazing Mortgage Advice in Hull.