{"id":4056,"date":"2017-05-16T10:32:01","date_gmt":"2017-05-16T10:32:01","guid":{"rendered":"https:\/\/www.ccpc.ie\/consumers\/?page_id=4056"},"modified":"2024-02-16T15:03:30","modified_gmt":"2024-02-16T15:03:30","slug":"what-to-do-if-you-are-refused-a-mortgage","status":"publish","type":"page","link":"https:\/\/ccpc.inventise.ie\/consumers\/money\/mortgages\/what-to-do-if-you-are-refused-a-mortgage\/","title":{"rendered":"What to do if your mortgage application is refused"},"content":{"rendered":"<p>There are many reasons why a mortgage application could be refused, and it\u2019s important to remember that a refusal now is not a lender saying they won\u2019t ever lend to you. You should speak with your lender\/broker to understand the reasons why your application was refused so that you can improve any future applications.<\/p>\n<p>Some reasons why an application could be refused, include:<\/p>\n<ul>\n<li>your income is not enough to repay the amount you wish to borrow<\/li>\n<li>you don\u2019t have a sufficient deposit<\/li>\n<li>you have a poor <a href=\"https:\/\/ccpc.inventise.ie\/consumers\/money\/loans\/your-credit-history\/\">credit history<\/a> because you missed repayments or didn\u2019t pay off another loan<\/li>\n<li>your age. Lenders have an upper age limit they require a loan to be paid off by, typically between 65 and 70. So if you are over 40 years of age and seeking a mortgage with a term of 30 years you may have difficulty getting approval<\/li>\n<li>you work on contract, are not permanently employed, your job is at risk or you only recently started in a new job<\/li>\n<li>your bank statements show that you cannot save, manage your money or have excessive gambling habits<\/li>\n<li>the lender believes the property you want to buy is overvalued<\/li>\n<\/ul>\n<h2>What can you do?<\/h2>\n<p>In many cases you can improve your application, for example by<\/p>\n<ul>\n<li>saving a larger deposit<\/li>\n<li>waiting for your probation period to end<\/li>\n<li>paying off loans or credit cards<\/li>\n<\/ul>\n<p>In these cases, you should apply again when you are ready. If you have had two\u00a0mortgage applications refused and meet other certain criteria, you may qualify for a <a href=\"https:\/\/ccpc.inventise.ie\/consumers\/money\/mortgages\/local-authority-home-loan\/\">Local Authority Home Loan<\/a>.<\/p>\n<p>If you are having trouble with the mortgage application process it may be helpful to talk to a <a href=\"https:\/\/ccpc.inventise.ie\/consumers\/money\/getting-financial-advice\/\">financial or mortgage adviser<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are many reasons why a lender may refuse to give you a mortgage and you can find out the reasons from them.<\/p>\n","protected":false},"author":15,"featured_media":0,"parent":221,"menu_order":102,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"tags":[8,17],"class_list":["post-4056","page","type-page","status-publish","hentry","tag-money","tag-mortgages"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What to do if your mortgage application is refused - CCPC Consumers<\/title>\n<meta name=\"description\" content=\"There are many reasons why a lender may refuse to give you a mortgage. 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