Lenders not wanting to lend

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Thinkandgrow1
Thinkandgrow1 Posts: 20 Forumite
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in Mortgages & endowments
I am going for a mortgage app in a few weeks however I have been told that a lot of lenders are being very picky or looking for reasons not to lend. Is this the case or should I pay no heed? 
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  • Hoenir
    Hoenir Posts: 2,286 Forumite
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    Told by whom? 
  • Thinkandgrow1
    Thinkandgrow1 Posts: 20 Forumite
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    Hoenir said:
    Told by whom? 
    Mortgage advisor :/
  • housebuyer143
    housebuyer143 Posts: 3,442 Forumite
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    Lenders need to lend to have a viable business so no, they are not trying to get out of lending.
  • ACG
    ACG Posts: 23,769 Forumite
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    Jan was my busiest Jan ever (12-13 years).
    Feb was my busiest Feb ever.
    March was my busiest MONTH ever. 
    April was a bit slow which I think was due to easter. 
    May is looking like it will be busy. 

    I have only had one declined application and that was because it was suspect to be a bit iffy. Every other application has either gone to offer or is in the process. 

    No signs of lenders being any fussier than normal and most of my clients have adverse! 
    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.
  • Thinkandgrow1
    Thinkandgrow1 Posts: 20 Forumite
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    Thanks that’s good to know. I think I might change broker. 
  • Hoenir
    Hoenir Posts: 2,286 Forumite
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    Thinkandgrow1 said:
    Thanks that’s good to know. I think I might change broker. 
    Sounds like a positive move. 
  • user1977
    user1977 Posts: 14,344 Forumite
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    Thinkandgrow1 said:
    I am going for a mortgage app in a few weeks however I have been told that a lot of lenders are being very picky or looking for reasons not to lend. Is this the case or should I pay no heed? 
    How it change things for you if the answer was yes? Surely you'd still be applying anyway?
  • ACG
    ACG Posts: 23,769 Forumite
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    user1977 said:
    Thinkandgrow1 said:
    I am going for a mortgage app in a few weeks however I have been told that a lot of lenders are being very picky or looking for reasons not to lend. Is this the case or should I pay no heed? 
    How it change things for you if the answer was yes? Surely you'd still be applying anyway?
    Stress levels might be a little lower? 
    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.
  • Thinkandgrow1
    Thinkandgrow1 Posts: 20 Forumite
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    user1977 said:
    Thinkandgrow1 said:
    I am going for a mortgage app in a few weeks however I have been told that a lot of lenders are being very picky or looking for reasons not to lend. Is this the case or should I pay no heed? 
    How it change things for you if the answer was yes? Surely you'd still be applying anyway?
    I’d still be applying. It just unnerved me that’s all. Already a stressful enough process. 
  • ReadySteadyPop
    ReadySteadyPop Posts: 190 Forumite
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    edited 4 May at 12:58PM
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    housebuyer143 said:
    Lenders need to lend to have a viable business so no, they are not trying to get out of lending.
    They are just getting out of meeting sellers expectations, a price correction would benefit lenders as they will get more customers.
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