Mortgage declined..how long does it stay on credit history???

shamaila

Hi I've had my mortgage declined twice on a property that I really wanted to buy. What I want to know is that how long will this stay mark stay on my credit history and how soon before I can apply again with same or different lenders thanks

Wh05apk

More importantly do you know why you are being declined?

Are you going through a broker, or just applying at random?

There is clearly something wrong, either, credit or criteria, so until you identify why and change something or find a suitable lender you will keep getting knocked back.

A decline on you record is not going to have a major impact provided you don't keep applying at random.

kingstreet

Declines are not recorded on your credit file.

The searches will be visible for upto twelve months from the date they were done.

How long you have to wait? You don't. You simply have to find a lender which wants to lend to you. As for re-applying to the lender you've already tried... who knows?

Can I suggest you find a good independent or whole market broker able to place your mortgage based on the information which is causing you a problem?