You have shopped around all the financial institutions and building societies. You have contacted a number of brokers. None of them will give you a mortgage. How can this happen? Refused a mortgage? There are usually a number of reasons that combine to result in mortgage refusal. The bank or building society can simply refuse to lend you the cash and is under no ... obligation to give you a reason. Before you go looking for a mortgage, it's a good idea to do a simple self-credit check.
- Do you have a history of bad credit?
- Do you have a lot of outstanding loans and credit card debts?
- Do you have a permanent job?
- Do you have any savings?
- Have you saved a deposit?
- Can you actually afford to borrow the amount you are looking for?
It"s common sense. If you can't prove that you have a good credit history, then you can forget about it. If you have been refused a loan and can't figure out why, then it might be an idea to contact the Irish Credit Bureau to check that they have accurate information.
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