There are a few common causes that could lead to rejecting your mortgage application after you have reached an agreement in princple, here are a few. In almost all cases, the mortgage lender will order a surveyor to see and evaluate a property. They will want to make sure that it is likely to get a mortgage against. You will also comment on the value and, in the case of a buy-to-let, likely rental income to comment on. Some mortgage lenders will mandate this expert after receiving the application form and others after reviewing the case. Some mortgage lenders will mandate this expert after receiving the application form and others after reviewing the case. Once an expert is informed, they will usually be in contact with the person you have given to access the accommodation. In the case of a towed, it is usually you and on the seller`s purchase. After the surveyor has visited, it usually takes 24 to 48 hours for the report to be written and returned by the mortgage lender. Subsequently, the pipeline`s maintenance snake is assembled for the documents to be verified. In some cases where the report is not clear, the mortgage lender will contact the surveyor to clarify the information. The survey participant may recommend further reviews to ensure that the property is in order, for example.B.
they may request a “wood and humidity report.” At this point, we will have an idea of the other support documents that the lender will need and we will send them to the lender`s processing department, either by email or fax. It is important that you get this part correctly, as sending incorrect documentation or delays in sending it can cause long delays in processing your application. Getting a mortgage with non-performing loans is possible, but you might need a larger deposit or guarantor, as lenders may consider you more likely to take risks. It can also help you use a mortgage broker or financial advisor to help you understand what you can afford and find a lender that will accept you – remember that these professionals may pay fees, and that some may not cover the entire market. Always check your information yourself in advance, as it is likely that you can change anything, which may lead some lenders to reject your mortgage application. You may be rejected if you apply for a mortgage in principle, which can affect your creditworthiness. Once you have had a chat with one of our advisors to discuss the different types of mortgages and have reached an agreement in principle, you are ready to offer on the property you want to buy. Offering on a property you want to buy can be difficult. There is no specific science to get the best possible price, but always remember that it is difficult to negotiate down. Don`t be fooled by offers “on and above” on a series of real estate details from a real estate agent. The agent works for the salesman, not for you.