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Lenders not wanting to lend
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Thinkandgrow1
Posts: 22 Forumite
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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Told by whom?0
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Mortgage advisorHoenir said:Told by whom?
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Lenders need to lend to have a viable business so no, they are not trying to get out of lending.1
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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 AdviserYou 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.3 -
Thanks that’s good to know. I think I might change broker.1
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Sounds like a positive move.Thinkandgrow1 said:Thanks that’s good to know. I think I might change broker.0 -
How it change things for you if the answer was yes? Surely you'd still be applying anyway?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?0 -
Stress levels might be a little lower?user1977 said:
How it change things for you if the answer was yes? Surely you'd still be applying anyway?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?I am a Mortgage AdviserYou 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.0 -
I’d still be applying. It just unnerved me that’s all. Already a stressful enough process.user1977 said:
How it change things for you if the answer was yes? Surely you'd still be applying anyway?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?0 -
They are just getting out of meeting sellers expectations, a price correction would benefit lenders as they will get more customers.housebuyer143 said:Lenders need to lend to have a viable business so no, they are not trying to get out of lending.0
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