Updated: Feb 19, 2020
I had a client recently come to me because he heard me say; "I help people that say I can't get a mortgage because...." a phrase that I often use when I am networking.
He had recently been told "no" by a Mortgage Advisor "your newly, (self)-built property is too unusual for any lender out there" - that's like a red rag to a bull to me! So he began to tell me what was unusual about his oak framed, piled foundations, wooden clad, self built, property with SIPS (Structural Insulation Panels System), and that he was 69 years old and only had pension incomes to show! So I rose to the challenge.
It took me 3 days of research to find a lender that would lend to him for 35 years on an interest only basis but I did it. And he responded with "You've changed my life Danny", a phrase no one could ever tire of hearing.This is why I love my job.
So if your Mortgage Broker says "no" too quickly then they are not doing enough research to justify their fee and you are paying them too much!