Mortgage declined – what next?

We have access to mortgages from over 50 lenders, including niche lenders who specialise in complex cases.

Whether you have been declined due to your age, credit history, experience in owning rental property, history of home-ownership, personal income, rental income, the size of your deposit or the type of property you wish to buy, we may be able to help you.

Criteria highlights:

  • Minimum age 18 (for most lenders, you must be at least 21).
  • No maximum age, subject to other criteria (for most lenders, 70–75 is a typical upper limit).
  • No minimum income, subject to other criteria (most lenders require an income of at least £25,000 per annum).
  • Mortgages available up to 85% LTV (loan-to-value).
  • Arrears (secured or unsecured), bankruptcy, CCJs, defaults and IVAs can be considered depending on age and severity.
  • Both first time landlords and first time buyers can be considered, subject to other criteria.
  • Access to lenders who will consider lower rental coverage ratios and pay rate rental calculations.
  • Ex-council and ex-local authority properties, certain unusual construction types, flats above shops and studios can all be considered.

Other common reasons your application might be declined

In order to give yourself the best chance of being accepted by the lender we match you with, you need to give us as full and accurate information as possible so that we can ensure that your application is watertight.

Below are four of the most common reasons that subsequent applications are declined:

Down valuations

Down valuations occur when the value of the property being mortgaged has been overestimated. The easiest way to avoid this is to ensure that you provide as accurate an estimation as possible.

How to accurately estimate property value

Unsuitable property type

Certain types of property, or properties with unusual construction features, can be hard to sell, and are often considered unsuitable security by most lenders. Ensure that you have chosen a property that is suitable for a mortgage in order to avoid problems down the line.

Find the best type of property for buy to let

Undisclosed adverse credit

If a lender identifies adverse credit that was not disclosed during the application, this will almost always result in the application being turned down. Make sure you identify any issues, no matter how minor, and take steps to improve your credit rating in order to qualify for the best mortgage possible.

Best BTL mortgages for landlords with impaired credit

Insufficient provable income

Any income that you declare on your mortgage application must be verifiable (in other words, taxable) in order to be counted towards a lenders’ minimum income requirements.

What will a lender accept as provable income?