Have you found your home, get set to buy it and then discover your application for your home loan is rejected.
Rejected applications for finance are a touchy subject, but the main thing is not to give up. There are never two lenders the same so it’s worth shopping around. Just because one lender has rejected your application doesn’t mean to say they all will. Everyday at Pierre Finance we strive to achieve your financial needs and also at competitive rates. We use a variety of companies to achieve the best rates. We shop around while you relax.
It is always good to do some research beforehand as loan rejections can leave a black mark against your credit rating, which will make it even harder.
The best way is to read on and follow our simple steps:
- It is always good to find out why your application was rejected. Sometimes there could be a simple solution, or it may not even be your fault.
- You need to look into your credit history and find out if there is any evidence. There’s lots of different reasons for marks on your credit, like an overdraft, an unpaid bill that has slipped through the net or a default on a past loan or mortgage. So the first thing to do is sort any marks, pay all your bills on time and even try to save a little. It doesn’t matter how much as long as it’s regular. The more reliable your finances look the more options you will have.
If you do happen to have a loan rejected then don’t despair. It is a common thing and it doesn’t mean failure. As long as you prove that you are sensible and reliable with your finances then you shouldn’t have a problem. A savings plan of any kind is the best foot forward.
Contact our expert friendly team anytime.