How Strict is HSBC in Assessing Mortgage Applications? HSBC is known for being thorough and meticulous. They have a responsibility to ensure that they lend money responsibly. This means that every application they receive goes through a detailed assessment process. HSBC scrutinises your financial history, employment status, credit score, and current debts. The bank wants […]
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What To Do If HSBC Declined Your Mortgage Application?
What To Do If Halifax Refused Your Mortgage Application?
Why Might Halifax Decline a Mortgage Application? Halifax, like all major lenders on the high street, has a set of guidelines they follow when reviewing mortgage applications. These rules are in place to ensure they lend responsibly. However, Halifax is also recognised for its accommodating stance towards a variety of borrowers, including those buying their […]
What Should I Do If My Mortgage Declined After Exchange?
Is It Possible for a Lender to Withdraw a Mortgage Offer? Yes, lenders have the right to withdraw a mortgage offer. This can happen at any point before the completion of the loan. While not common, there are specific reasons why a lender might decide to retract an offer. These include significant changes in your […]
What Should I Do If My Mortgage Declined At Valuation?
What Is Mortgage Valuation? Mortgage valuation is a basic check carried out by your lender. The goal is to ensure the property you want to buy is worth the amount you’re planning to borrow. It’s not a thorough survey. Instead, a surveyor appointed by the lender will quickly assess the property’s value based on factors […]
Why Was My Mortgage Declined After Agreement in Principle?
What is an Agreement in Principle (AIP)? An Agreement in Principle (AIP) is a lender’s initial approval for a mortgage. It tells you how much they might lend you to buy a property. Think of it as a quick check to see if you’re likely to be approved. The lender will look at your income, […]
What Should You Do After Being Declined For Mortgage?
What Leads to a Mortgage Decline? It can be disheartening to have your mortgage application refused. But, knowing the main reason behind your mortgage refusal can help you address these issues for future applications. Here are some typical reasons for mortgage rejections: Credit History Concerns A major reason for rejection is a poor credit history. […]
