Have You Been Declined For a Mortgage in Hull?

Mortgage Advice in Hull For Difficult Situations

Through our 20 plus years in the industry providing open and honest Mortgage Advice in Hull, it’s a known fact that each mortgage lender has their criteria to determine who gets accepted and who doesn’t. You may find that some lenders criteria are difficult to match compared to other, either way, it all comes down to whether or not your can their criteria and the performance of your credit score.

The most common reason a customer’s mortgage application gets declined is not meeting their lenders criteria. This is where we strongly believe that an expert Mortgage Broker in Hull, like ourselves, is very helpful. Here at Hullmoneyman, we search thousands of deals with the goal to find you the most appropriate lender for you and your financial situation.

How can I avoid disappointment?

Prior to applying, you first need to check your credit file to see if it’s looking good. Don’t worry if not, our guide on How to Improve Your Credit Score might help! Making your credit file favourable to the lender can be done in a variety of ways, however, we always suggest you approach a Mortgage Advisor in Hull before anything.

Another reason to seek an advisor is that only a small number of people are realistically eligible for every deal on the market. Therefore, the majority of the time, people are searching for the wrong deals. It’s not all about finding the cheapest deal, it’s finding one that you will qualify for.

As an experienced Mortgage Broker in Hull, we do recommend that you do look into the different types of mortgage available or get Mortgage Advice in Hull before you rush into anything.

Get in touch with one of our knowledgeable Mortgage Advisors in Hull by booking your free mortgage appointment online or call our team.

What are other applicants doing?

It’s common for customers to use price comparison websites to find a mortgage. There is no problem with going down this route, however, you need to keep in mind that the price comparison websites can’t match you to all the details of a lenders criteria.

Furthermore, it can take weeks for an application to go through the process and can be time-wasting if it ends up being a declined application. This can result in you losing your property and/or breaking down a chain. You could have been declined due to selecting the wrong mortgage which can leave a negative footprint on your credit score for a failed application.

Reduction in loan amount

In some cases, customers could be eligible for particular deals, however, only at a reduced amount that allows them to match the criteria. It can be common for a lender to initially say that you can borrow a certain amount and then in the future, they change their mind and look to reduce the mortgage available.

Again, lenders are all different and have their own ways of carrying things out. You may find there is a significant difference between the ways the lenders work and it’s very unlikely that you are going to match all of them. Therefore, it’s best that you narrow down your options so you can find the best mortgage option for you.

Your Mortgage Broker in Hull is Here to Help

If you are a First Time Buyer in Hull or are looking at Moving Home, we strongly believe that seeking expert Mortgage Advice in Hull will be very beneficial. Here at Hullmoneyman, we will provide a helping hand from the initial point of contact all the way through to getting the keys to your new home. Along with this, we will strive in finding you the perfect mortgage deal for your personal and financial situation.

Through our 20 plus years of experience in the industry, we have dealt with thousands of specialist mortgage cases and have been able to create mortgage success for our customers. Utilising the service of a Mortgage Broker in Hull, like ourselves, will allow you to obtain an up-to-date credit report too and will be provided you with the most suitable mortgage for you!

If you feel your situation is too complicated, a Specialist Mortgage Advisor in Hull could help! Get in touch with our team today for a free mortgage appointment. Check out our fantastic customer reviews to see how a Mortgage Broker in Hull helped them through their mortgage journey!

09/09/2022