Mortgage offer rejected

There are 2 main reasons why your mortgage offer might be turned down, they are as follows: -

1. Due to problems with the property.
2. Due to difficulties concerning your circumstances, i.e. your age, income or credit history.

If the problem relates to your credit history, it is worth asking the lender to tell you which credit reference agency they used, and contact them to obtain a copy of your record. There is a charge of usually £2.00 for this but well worth it as you may find on it incorrect information about yourself that affected your mortgage offer. You can ask for it to be changed and corrected.

You mortgage offer may also have been refused because of an unusual situation, it is advisable you approach a mortgage broker or IFA whom specialise in mortgages for different circumstances.