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Being declined for a mortgage can feel disheartening, but it does not necessarily mean homeownership is out of reach. Many declines happen because the wrong lender was approached rather than because the applicant is unsuitable.
There are lenders who specialise in bad credit mortgages and consider applications that mainstream banks may reject.
Why applications are declined
Common reasons include:
- Credit score concerns
- Affordability calculations
- Incorrect application details
- Lender-specific criteria
A decline does not always mean you cannot get a mortgage. It may simply mean the lender was not the right fit.
What to do next
Before making another application, it’s important to review why the decline occurred. Submitting multiple applications without advice can negatively impact your credit file.
Speaking to a broker can help you understand your position and approach lenders who are more likely to accept your circumstances.
If you're thinking of changing broker, our guide on how to choose a bad credit mortgage broker sets out what to check.