Refusal of a mortgage: how to diagnose the reason and what to do now
Practical steps after being refused a mortgage, including checking income, liabilities, credit data, assets and application structure.
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Rejection of a mortgage does not necessarily mean that there is no solution, but you should not immediately submit the same request to other banks. First find out if the reason is repayment ratio, credit data, equity, appraisals, property type or missing documents. After diagnosis, the case is fixed, the amount of financing is adjusted and an entity that matches the characteristics of the transaction is contacted.
Written and professionally reviewed by the Ailon Financing Solutions team
Start with diagnosis
Ask to understand what prevented the approval. Check balance sheets, liabilities, recognized income, source of equity, property registration and appraisals. Order a data concentration report from the credit data system and check that there is no error in it.
A responsible solution may be reducing the amount, closing an obligation, extending a period, strengthening documents or choosing another property. Do not present partial data and do not take a loan to hide a lack of equity.
What is the difference between a full balloon, outstanding and a bridging loan, how is the final payment calculated and what tests are performed before interim financing.
Only after understanding the reason. A repeated request with the same data may end up with the same answer and not solve the problem.
Can incorrect credit data be corrected?
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You can order a report and request the correction of incorrect information according to the procedure of the credit data system. Correct information is not deleted just because it is inconvenient.
without obligation
One call. thirty minutes free of charge
We will understand where you stand and tell you straight away if you have anything to save. If not, we'll say that too.
