Things that could stop you getting a mortgage

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If you are potential home buyer, it is likely that you are going to be seeking out a mortgage.

A mortgage acts as a loan which helps you to secure and purchase a property that you cannot buy outright. But not everyone can get a mortgage, you have to qualify for it under a bank’s eligibility and terms. Therefore, your first major hurdle is being accepted by a mortgage provider.

In order to be eligible, there are a number of external factors which can trip you up on your way to getting your dream home. We will outline these in this guide so that you can be sure to avoid any slip ups that could compromise your mortgage application.  

Restrictive lending criteria

Following the credit crunch of 2008, the criterion for being accepted for a mortgage has been much tougher as banks have been a lot more selective with who they lend to. This means that it is harder for the average person to get on the property ladder and get approved for a mortgage, which has given rise to specialist lenders and mortgage brokers trying to help people get the best deals.

You are not on the electoral register 

Being on the electoral register allows the lender to quickly and easily determine your name and identity. Simply being registered to vote adds credibility to your application that you are indeed a real person and it is something that contributes to your credit score. For more information, you can go to

You are in too much debt

Since taking out a mortgage is a form of debt, it is not responsible for the mortgage provider to lend to someone who is already facing other forms of debt.

Lenders may not only take your existing debt into account, but also look at your past debts and whether you were able to keep up with them – did you pay them back on time and in full? If so, then you should be fine. However, if you have a history of late payments and missed payments, you may struggle to find a mortgage provider willing to offer you a good deal or a deal at all. 

You do not have a credit history 

Many people do not like to borrow money and therefore have never borrowed at all before they go to get a mortgage, not even on a credit card. This is very common for young people with limited credit histories. The lender may be slightly hesitant to grant you a mortgage as this will mean your creditworthiness cannot be measured. 

You have had money troubles in the past 

Lenders will look into things like declarations of bankruptcy, individual voluntary agreements, county court judgements and any miss – these will all be present on your credit file for six years. 

If you have even fallen victim to serious finical struggles in the past and this is still visible on your credit file, you may struggle to get an application approved by a mortgage provider.