We run various automated checks based on the information you've provided about yourself and the property.
There are various reasons why you might have been rejected for a mortgage. Some of the common reasons for rejection are:
Based on our eligibility criteria:
- Annual income falls below the minimum required amount of £20,000
- Insufficient credit history
- Credit history outside of our lending criteria
- We couldn’t match the name used – In order for us to carry out automatic checks and ensure you get a mortgage as easily as possible, we need you to provide us with accurate information. This means we need you to provide your full legal name, not nicknames or abbreviations
- Incorrect address history – In order to meet our lending criteria, we need to check your address history within the UK. If we cannot confirm this, we will be unable to lend to you
- If you haven’t been a resident in the UK for the last 3 years
Based on our eligibility criteria for the property:
- The property is outside England and Wales
- The property has a floor space below the minimum requirement of 30 sqm
- The property is a large HMO
- Property price/value below £100,000 or below £75,000 in the North East and North West of England.