No current mortgage

edited 30 March 2018 at 10:17AM in Mortgages & endowments
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lookstraightaheadlookstraightahead Forumite
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edited 30 March 2018 at 10:17AM in Mortgages & endowments
Can anyone tell me how common it is for a mortgage lender to turn you down because you do not currently pay a mortgage? In Santanders credit scoring it takes into account your current mortgage situation and no current mortgage gives you a low score.

It states that you can get a low credit score if you have no existing mortgage in the intermediary literature.


  • ThrugelmirThrugelmir Forumite
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    Lenders have a multitude of ways of assessing your application and profiling you as potential borrowers. Focus on what you can influence rather than worry about elements that you cannot. Everybody starts on the bottom rung.
  • Hi there

    Some lenders depend on credit scores initially to assess your application. If your credit score is low (missed payments, or just not very much credit, not on electoral roll or past credit difficulties) then its an automatic "computer says no" decline.

    Other lenders take a much more balanced approach and look into your credit conduct more thoroughly before making a decision. Some don't credit score at all.

    If you are looking fora mortgage and you've been declined once, its a bad idea to approach lenders randomly getting lots of credit searches done, as this can make your credit score even lower.

    You would fare better if you spoke to a whole of market mortgage broker/adviser and let them look at your situation and recommend a lender to you.

    Hope that helps

    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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