getting a mortgages

Many reasons stand in your way to obstruct your access to the mortgage approval. From the smallest to the biggest factor can be responsible for stopping you from getting the funds for your big property purchase.

A collection of varied factors work to get you the loan. If even some of them go wrong, you can be in big trouble as rejection may happen. But don’t worry, knowing about what keeps you from a mortgage approval, arrangements can be made to nullify the obstacles that restrict the possibilities of attaining a ‘YES’ from a mortgage lender.

Detection of financial issues after the issue of agreement in principle

An agreement in principle is an initial approval on a mortgage based on your necessary financial information. However, later when the lender scrutinizes your financial condition and find any issues, the rejection might happen.

This situation is quite individualistic, as, for every applicant, the lender has varied reasons. You need to ask the mortgage company about the precise reason due to which it rejected your loan application. It can be any reason, employment stability issue, poor debt-to-income ratio and delay in payments etc.

The Duo of poor credit and small income

You always need strength to compensate for a weakness. If you have a poor credit score, at least your income should be good. Nowadays, the lending market has become flexible due to advanced FinTech approach, but the flexibility doesn’t mean that the lenders are ready to compromise on their basic rules and regulations.

You still have to qualify on specific basic terms and conditions. It is OK to expect mortgage approval despite bad credit, but a robust current income status is necessary. If you want to know how it happens, check out a guide on how to get a mortgage with bad credit but good income and tailor your conditions.

You are staying in the UK from less than 3 years

The lenders are always reluctant towards the applicants if they haven’t spent a minimum of 3 years in the UK. Just like you need to prove your stability in the job, you also need to verify your stability in the nation. It is, in fact, advisable to not to apply for a mortgage if you haven’t completed the minimum time of your stay.

It is a popular culture in the UK mortgage market, as the lenders want to reduce the chances of risk as much as possible. It is not wrong to take a second opinion on the situation. You can hire a broker such as Shine Mortgages to know if there are any deals available for the applicants who are living in the UK for less than 3 years. Culture and conditions keep changing in every industry; you might get the key to your good luck by getting a mortgage. But you know what; at least 2.5 years are vital to spend as the resident.


If you can keep control of all the above factors and can play safe in the lending market, it is not difficult to get an approval on your mortgage application. The best way is to stay stable in your personal finances because if your financial condition is stable, all other things become easy to tackle.

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