Why Was My Mortgage Declined?


Why was my mortgage declined?

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Did you know that, on average, 340 mortgage applications will be declined today?

Small comfort, especially if it was you who received the No.

Specialist lending is an area of growth, it is rising from the need for solutions to consumer problems that the high street lenders cannot hope to solve. These high street names have massive reserves, as dictated by Regulation.  The media-hype leads us to believe these lenders want to help, however, this is a far cry from the truth, the simple fact is that they do not want risk, they will not consider risk, and they will not lend where a risk may even be of their own perception and making.

Yet the very fact they perceive there is a risk, does not, however, mean the risk is real.

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As peoples’ lives change and evolve, mortgage and loan applications will continue to increase in complexity, and complexity does not sit comfortably with risk appetite, nor tick-a-box criteria checklists. Therein lies the problem… You cannot fit a round peg into a square hole – you need a corresponding round hole for everything to fit well.

Anyone classed as complex, outside-the-box, or having minor adverse credit, now has the chance to obtain mortgages and loans that until recently, were simply not available mainstream.

How are needs changing? Here are a few thoughts for you, in answer to the question “Why was my mortgage declined?”

  • Since 2008 (the year of the Crash) there has been a 25% increase in self-employed workers
  • Over 1 million people are now on Zero-Hours contracts
  • 1 in 7 people will be over 75 years old by the year 2040
  • On average, 3,311 County Court Judgements were registered every day during 2017
  • Consumer debt is growing, it has already reached £1.59 Trillion

Credit blips, missed or late mortgage, loan, credit card or utility bill payments, are becoming ever-more common.

Here at Step-Up Loans, we are proud to boast that as an Independent, we have access to the whole marketplace of lenders, not just a few favourites or a restricted panel. If it can be done, we are able to do it, whether it is for personal use or business purposes. Whether employed, self-employed, zero-hours or a contractor. Whether you are 21, 61, or 81. And in certain cases, whether you are not a homeowner but are able to have a Guarantor who is.

Your best plan is to call us directly – Everyone is different, everyone has a story to tell.

Let us listen to your story and find the solution that’s needed.

Let us say “Yes, we can help” – Have you had a mortgage application declined?

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527


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