Mortgage declined

Auld_Dorris

Have recently had an offer accepted on a house we want to make our first.

However, the mortgage has been declined after been accepted in principle.

What can we do now? Will any other lender accept us after Santander have left a heavy dent in our credit scores. Or is it now a case of waiting 3, 6, 9 months to re apply??

Any experience based help would be greatly appreciated.

Auld Dorris x

ACG

Santander are not the most lenient of lenders so them declining you is not necessarily the end of the world, but it is important to find out why they declined you - is there something specific or is it just a case of overall score?

Have you looked at your credit reports?
It might be worth speaking to a broker, they will avoid the stricter lenders and either go to one more flexible or find a lender where you fit criteria.

But before you do anything you need to find out why you were declined.

Auld_Dorris

There is options out there to re-apply again to a more suitable lender straight away then?

Thanks for the advice much appreciated

timbo29_2

My current lender gave a counter offer to how much I needed to borrow, so I went through a mortgage advisor at that point, and they have been successful.
£199 fee is nothing in the grand scheme of things