Applying for Mortgages Rant

[Jenni07]

>>It can get very frustrating applying for a mortgage. I think it is important to keep trying until you get the approval you are seeking.<<

It can be. Especially if you have to handle all the other little things like liasing with the lender and solicitors. If you find someone that is Independant and reliable, it is well worth using them. When you start to look at all the different products that are out there and the fact that a Mortgage Advisor will know where to place it best (even if it doesn't look like it will meet a lenders criteria, they might pass it!). All sorts of things come into play that can make it difficult for the average person to deal with these things. Self employed? Self certified income? Income requirements? Credit? Age? Purpose of borrowing? Selling soon? Retiring? Tax? It goes on and on and on.

We always say, "why kiss so many frogs when you know which ones will turn into a Prince?"

Try not to get frustrated. If you have been with NWBS all your life and they won't lend you money at 65 (even if you have loads of equity in your property), get advise and then get a 2nd opinion to back it up.

First rule of lending is to believe anything is possible and then narrow it down according to the circumstances and requirements. If you go to your bank on the high street and they say "no" (they might only have 10 types of products for you), it might fit in with one of the other 8,000 products offered by another lender.

Jenni