Chloe’s Pro-TIP

Getting a mortgage after you’ve recently been declined is not impossible!

Most of my clients get in touch after being declined by their own bank or another mortgage broker. So you’re not alone.

The reality is that many high-street banks are rigid with their underwriting and don’t account for the nuances that come with being self-employed.

On top of that, other companies don’t work with self-employed mortgages every single day. As you would expect, they don’t have a close understanding of the market and the lenders that are keen to lend to people like you.

That’s why I wanted to share this tip with you.

The first question you want to ask your bank or other mortgage company is “why has my mortgage application been declined?”

In my experience, most applications are declined because your income isn’t sufficient to support the level of borrowing you’ve applied for. As the relevant due diligence wasn’t carried out by in-house underwriters this unfortunately happens more frequently than you would expect.

Just because you’ve gone through this terrible ordeal doesn’t mean there isn’t anything we can do to help. We understand the way your income is structured and how to expertly match you with the right lender to ensure you get the self-employed mortgage you want!

They key is understanding why you have been rejected.

After assessing the reason behind your rejected application and carefully calculating your self-employed income, I’ll quickly determine the best strategy to put in place to ensure the lender says yes!

I hope this provides some hope to your situation and it helps you to realise that securing the mortgage you deserve is still possible!