What are the critical questions to ask when choosing a lender?
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Burdened
1 year ago
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
When you are searching for a mortgage, unfortunately it's not a case of you choosing the lender. The reality is that they will choose whether or not to conduct business with you. That is why its simpler to engage the services of an IFA as they will assess your current circumstances and needs, and then apply that information against lender criteria in order to narrow down the field. Then its a case of selecting a rate based on the amount you want to borrow and how you want the deal to be structured.
lenders are now using the common decline reason of "lack of affordability" as a means of declining an otherwise clean case as its a vague and subjective reason which cannot be easily overcome by supplying evidence
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lenders are now using the common decline reason of "lack of affordability" as a means of declining an otherwise clean case as its a vague and subjective reason which cannot be easily overcome by supplying evidence