The Challenge
Our client found their ideal home, but the purchase hit an obstacle when the lender declined their mortgage application. The reason? The property was located next door to an abandoned commercial building. Lenders can sometimes see this as a risk factor, as they may be concerned about future resale value or neighbourhood impact.
Our Approach
Rather than accepting the decision, our adviser took a closer look at the situation. During the review, they discovered that the current owner of the property already had a mortgage with the very same lender who had declined our client.
This crucial detail highlighted an inconsistency in the lender’s decision. Armed with the facts, our adviser presented a strong case back to the lender, challenging the initial decline.
The Outcome
The lender agreed to reassess the application. After their review, they overturned the decision and approved the mortgage.
Our client was delighted—they were able to secure their dream home thanks to the persistence, knowledge, and attention to detail of their adviser.
Key Takeaway
This case shows the importance of having an experienced mortgage adviser on your side. Where a direct application might have ended in disappointment, our expertise turned a decline into an approval.
*Your home may be repossessed if you do not keep up the repayments on your mortgage*
