The bridging lender’s survey of 752 UK adults, all of whom had applied for mortgages in the past 5 years, uncovered the trials and tribulations they’ve confronted when applying for his or her loans.
It discovered that 68% have been successful at their first try, whereas 32% have been rejected on at the very least one occasion.
More than a 3rd (36%) of those that have been turned down by a lender stated that they were by no means informed why their application had been unsuccessful. Nearly half (46%) had acquired an agreement in principle from a mortgage supplier, just for the company to later reverse their resolution.
In keeping with all respondents, 50% relied on a dealer to seek out their mortgage. Nevertheless, 28% are dissatisfied with the expertise they’ve had with their present mortgage provider.
Search Mortgage Solutions are a Fee Free Mortgage Broker based in Manchester and can provide expert advice on ways to help you application be succesful.
