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Multiple Mortgage Applications
Robbo99_2
Posts: 4 Newbie
Fellow Experts
Can anybody confirm whether it is possible to pursue more than one mortgage application at the same time with a view to just accepting 1?
Many thnaks
Robin Boon (Mr)
Can anybody confirm whether it is possible to pursue more than one mortgage application at the same time with a view to just accepting 1?
Many thnaks
Robin Boon (Mr)
0
Comments
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Why would you want to go down that route?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
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At what point do some of the charges apply?
Surely choose the best mortgage for your circumstances and go for that one0 -
In case an application is declined0
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You go with the best lender for you by checking what they will take hypothetically. Best to do it via a broker and also, if you have concerns that it would be declined, you should do your homework first. If it because of adverse credit, then check the extent of it and what lenders would be sympathetic. If it is income multiples or some other concern, you could get an AIP (Agreement In Principle) with many lenders.
What makes you think you may be declined? By going for multiple applications you could expose yourself to more chance of being declined, as many lenders use a "Hunter search" and will establish that you are going to several lenders, get suspicious and decline your application.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.0
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