Mortgage Refused / Declined By Lender

Have you had a mortgage offer refused or declined by the banks?

Don’t worry, this is what we do best. We work with a wide range of specialist mortgage lenders and have successfully found solutions for 100’s of people struggling to get a mortgage.

There are many reasons why you may have been refused, such as:

Mortgage refused due to low credit score
Refused a mortgage as a first time buyer
Mortgage declined due to affordability checks
Mortgage refused due to bad credit history

It can also happen at different stages of the mortgage process, such as:

Agreement in principle declined
Refused after mortgage agreement in principle
Mortgage declined by underwriters
Mortgage declined after valuation of property
Declined mortgage after exchange of contracts

There are many more reasons why you may be having difficulty and what you do next is important, so don’t worry and give one of our expert mortgage advisors a call on 0121 4000 052.

We are experts in helping clients to secure freelance or self-employed mortgages. We typically approach lenders who we know are willing to look beyond the accountant’s assessment and take a broader view. Call us now and speak to one of our team who can talk you through your options.

Want to get started?

Choosing the right mortgage for you can be really tricky. At ams: our expert advisers guide you through the process. Simply, efficiently and professionally.

Call now to speak with a mortgage advisor

0121 4000 052

As a guide, you could potentially borrow around:

The figure above is calculated based around current lender criteria and may not be representative of the actual figure you may be able to borrow.

Want to find out more? Call 0121 4000 0052 or Email Us

See what our clients say

Words cannot express the amazing work AMS have done for us, our mortgage company pulled out and we were on the verge of loosing our home within 5 weeks of completion. But I read the reviews of AMS and within 2 days decided they were worth a try and it has been the best decision we have made. not only have we secured a mortgage within 3 weeks!!! but the communication was outstanding talking through steps every single day. a big thank you especially to Andrew and Arlette for making this all come together for us. we get to have our dream home and its all thanks to these two!
- Lewys
Current lender could not lend me enough, Santander and HSBC declined me. I have a car loan and credit cards and was struggling to get a mortgage. I spoke to AMS after looking online and they had lots of good reviews. Dave was super fast and managed to find a lender that approved me. It was an almost instant result compared to over an hour on the phone with HSBC asking a billion questions only to get declined even with a mortgage certificate from them it got declined in the application and credit search. Jaya my case manager was friendly and reachable and quick to get back to me. Both are a pleasure to deal with. Without them I don’t think I would’ve been able to get my mortgage/house. Thank you so much for your efforts.
- Sally
Everyone at AMS is friendly and approachable. Despite being foster carers, David and his team have managed to get us an offer for our re-mortgage which is half the rate we were paying, cuts the term remaining by almost a year and is saving us thousands - meaning we can overpay each month and reduce the term even more. Please don't worry about the fee; it is worth every penny for the time and effort they put in on your behalf - you really are getting what you pay for. Customer service is second to none and we highly recommend them. Fantastic company.
- Steve & Trish

Mortgage Refused FAQ

Can you get a mortgage, even after being refused?

Yes. We at ams: help hundreds of people each year. Please call us for further advice.

Do I need 3 years account before I can be considered?

Not necessarily as we have lenders who will use 1 years accounts.

Am I considered to be high risk?

Again, not necessarily as most lenders will offer the same rate to self employed as employed. As brokers we know which lender’s criteria will suit your requirements.

Will I need a larger deposit as I’m self employed?

No. Each case is assessed individually and we even have lenders that will offer mortgages up to 95{f3e6733233b70b8da8509d0af294c4ca7fb8b7488135760b99cf9baca8bf684d}.

If self-certification mortgages no longer exist am I excluded from getting a mortgage?

No, there are alternatives.

Do all lenders cater for the self employed?

Whilst the criteria will differ between lenders, e.g. number of years accounts required, they will all generally consider self employed applicants.

Can I still get a mortgage if I have been declined by my own bank?

Speak to us at ams: – whilst one lender may decline another could accept.

Can I get a mortgage if I have no proof of income?

Since self certification mortgages ended some occupations can provide proof of income other than accounts. All lenders will require some form of proof so speak to ams: about how it would work for you.

How do I prove my income now?

If you’ve only been trading a year, there are still mortgage lenders that will lend to you with 1 years accounts.

My situation is complicated, are you able to help?

Always call us as this is where we specialise, at ams: we have access to underwriters where we can talk cases through with them on an individual basis

So what income can I use?

Sole Trader

Net profit (if using accounts)
Profit from self employment (if using SA302s)

CIS / Sub-contractor

Where you have been subcontracting to the same company for the last 6 months we have options for you to raise a mortgage based upon your earnings from your pay slips (so effectively you are treated as an employed person)

Partnership

Your share of net profit (if using accounts)
Your share of total income received (if using SA302s)
Profit from self employment
commission

Ltd Company

Your share of director’s salary
Your share of dividends
Occasionally lenders can consider net profit if there has been a large business expense or a sum earned but left in the business and not withdrawn.

Employed

gross basic income
bonus
overtime
commission
car / town / shift allowances
mortgage subsidy
other cash employer benefits

Other Forms Of Income Considered

Investment income
Rental income
Trust income earned overseas
Income eaned in a foreign currency
Bursary
Pension
State benefits
Many others!

What income do I need if I am buying a property to rent out?

It will vary from lender to lender but you have more chance of being considered if you are a home-owner or experienced landlord.

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