Mr and Mrs A recently came to see us about securing a mortgage. They were in the market for a bigger property.
It isn’t unusual for clients to approach me about securing a mortgage for a bigger property. We work with a number of repeat customers on mortgages like this.
Mr and Mrs A seemed to have a cut and dry case. They had been to a bank to secure their mortgage, but this application had been declined.
There didn’t seem to be a rhyme or reason – just a flat no.
This seemed strange to me because when I looked over the case, it seemed to be affordable. However, on looking deeper there was a small issue on the credit report that was snagging this mortgage from being approved.
Once I had taken a more comprehensive look at the credit report, I was able to identify the adverse credit. This allowed me to place the mortgage with an appropriate lender. This lender would be more likely to accept the application.
Whilst sometimes it can pay off to stick with the bank you have, this wasn’t the case with Mr and Mrs A. By looking at different lenders, Mr and Mrs A were able to complete on the purchase and are very happy in their new (larger) home.
In a similar position yourself? Contact us here to see how we can help you.