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Has your mortgage been declined by underwriters?

Panicking about what after the mortgage underwriting process went wrong? Our team of expert advisors are here to help you find your way, even if you’ve already been declined for a mortgage.

Your home may be repossessed if you do not keep up repayments on your mortgage. When The Bank Says No is a mortgage broker, and not a lender.

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Useful links to begin your Declined Mortgage Journey

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Declined On Valuation

If you’ve been declined a mortgage on property valuation, our expert advisors are here to help. Let’s figure out your next move.

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Declined on Affordability

Don’t let no scare you. Our experienced advisors can help you achieve mortgage approval, even if you’ve been previously turned down.

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Declined On Underwriting

Panicking about what after the mortgage underwriting process went wrong? Our team of expert advisors are here to help you find your way.

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Declined After Application

A declined mortgage is upsetting, but we’re here for you. Talk to our friendly team of advisors today and we’ll get your application back on track.

Finding the Best Mortgage Agreement after Mortgage Underwriting Failure.

The mortgage underwriting process can seem scary. If these fears get realised by a mortgage refusal, it can be difficult to know what to do next. Our mortgage brokers specialise in helping those who have previously failed the mortgage application process to pick up the pieces and get their mortgage application back on track. Every mortgage lender is different, and it is likely there will be one out there better suited to your situation. We’ll analyse the deals available with multiple lenders and find you the right fit. With our help, you can dust yourself off following an underwriting stage refusal, improve your mortgage application moving forwards, and reapply with the best chances of success.

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Helping you bounce back. 

Facing mortgage refusal during underwriting can be infuriating and disappointing – especially if you thought you were on your way to mortgage success. Knowing what to do next can be challenging, but you don’t have to worry unnecessarily. Our experienced mortgage advisors have helped plenty of clients get their applications back on track following a declined mortgage. A no isn’t the end of the world in our book, and we won’t give up until we’ve found you a more suitable deal. When the mortgage process has you feeling fearful, we’re here to show you the way forward.

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Let's get the ball rolling.

We can support you and help you to make yourself as attractive to banks as possible, ready for your next application!

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In order for us to assess your credit history and suitability for different mortgage products, you will need to check your file.

Why have I been declined for a mortgage during underwriting?

Many different factors can prompt a mortgage refusal by a mortgage underwriter, including failing the mortgage repayments affordability checks, suspected fraud and money laundering, bad credit history, mistakes on your mortgage applications, a change in financial situation, and many other things. Essentially, the reason underwriters decline mortgage applications cannot be determined without careful examination of your mortgage application.

Essentially, a mortgage underwriter is responsible for checking through your documentation in line with lending criteria, requesting further evidence if required, ensuring proper credit reporting, and verifying that you can repay the money borrowed. If you’re not sure why you’ve been declined during the underwriting stage, our friendly advisors can help. From assessing your documentation to determining the reason ourselves to liaising with lenders directly, we’ll help you identify areas to improve and set yourself up for future success.

What is a mortgage underwriter?

A mortgage underwriter works for the mortgage lender to review your application against lending policies and criteria. Their main job is to perform an in-depth review of the documentation in your mortgage application form and verify that you can repay the money borrowed. They will also complete a final check of the property valuation report to make sure the property meets guidelines too.

They are ultimately responsible for the decision and mortgage offer you receive. They are not the same as mortgage processors who are responsible for requesting documentation and communicating with you on the underwriter’s behalf.

Turning Your Nightmares Into Dreams

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When you think you’ve hit that brick wall and have all but given up hope of finding mortgage finance, When the Bank Says No are here to turn your ‘No’ into a ‘Yes’. We have access to a range of specialist lenders who are willing to help those that the High Street banks just won’t touch. Get in touch today and see how we can turn your dreams into a reality.

What happens during mortgage underwriting?

Your mortgage application will be reviewed by someone at the mortgage lender’s company. It will start with a pre-soft credit check, and will then move on to a more in-depth look at your financial situation. They will process your application by looking at your attitude to credit via credit history, your current credit score, financial history (such as outstanding debts), lifestyle, employment status or self-employment history, and previous repayments.

They will enquire with credit report referencing agencies, analyse financial documentation, and may even request references from your employer. Since it is such an in-depth review, being upfront and honest about your financial history prior to underwriting is key to avoiding disappointment. If you have concerns about your application, talk to a member of our friendly team and we’ll discuss the best way forward for you.

How long does mortgage underwriting take?

lenders within 24 hours. Typically, though, the process takes a little longer. Depending on the information requested and the time it takes for you to supply it, the turnaround time can increase. The average time it takes for underwriters to review documents is normally within a few days, though this can increase in busier periods. Speaking with an experienced mortgage advisor before beginning the process can help you make sure you send accurate documents in a timely manner, reducing any major delays.

Frequently Asked Questions

How come I passed my credit check only for the underwriter to decline my mortgage?

When a mortgage application is submitted, a quick credit score search will be completed before it is handed over to the underwriter. The underwriter will check over your details and request additional information including proof of deposit, bank statements, payslips, and anything else bespoke to your circumstances. It is for this reason that your application can be subsequently declined even after receiving full credit reports. During a more detailed financial examination, the underwriter may find your application no longer suitable.

An underwriter may decline your mortgage due to your income not meeting lending policy rules. For example, if a large proportion of your income is made up of non-guaranteed sources, the underwriter may cap the proportion of this they use in their affordability calculations. As a result, it may be deemed that you cannot afford a mortgage you know you can – something that is incredibly frustrating!

Income can also be an issue if you see significant fluctuations due to job losses or non-standard sources – perhaps you are an agency worker or self-employed. Above all, an underwriter wants to know that your income is sustainable and may see these circumstances as higher risk. Luckily, not all lenders think in the same way, and there are many specialists out there who may be a better fit for your situation.

Yes, there are always circumstances where it is worth appealing the decision made on your application. However, it’s only worth doing if you have a good reason and further information to add that will challenge the refusal. If you are only appealing because you are not happy, it might be worth taking a step back and moving on or you risk wasting your time. Our team of mortgage specialists are here for you if you want to talk your mortgage refusal through and help you alight on the next steps. We’ll guide you through the best course of action and make sure you’re set up for mortgage approval the next time around.

If you don’t know why you’ve been declined, it is a good idea to ask why. The underwriter is not obligated to tell you, so don’t be disheartened if they don’t. The next thing to do is get advice. Rash decisions when it comes to money are never a good idea. When the Bank Says No is a team of dedicated, friendly advisors, who will happily look over your application and documentation and help you determine what gave the underwriter cold feet. We’ll liaise with the underwriter if we think there’s grounds for an appeal, or help you identify other opportunities better suited to your situation. Our mission is to find your yes when other lenders have said no.

Mortgage declined during underwriting? Get specialist advice.

Being declined by an underwriter doesn’t mean you can’t get a mortgage – it just means that specific lending and underwriting teams are not going to make you an offer right now. When the Bank Says No is a team of expert mortgage advisors specialising in clients who have been previously refused. With access to specialist deals and an intricate understanding of the mortgage process, our independent advisors will help you overcome your previous disappointment and move towards future success. From helping you identify ways to improve your financial suitability to scouring the market for the better fit, we’ll be here to guide you every step of the way. Let’s turn that no into a yes!

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