Wednesday 15 June 2011

Don't take no for an answer from mortgage lenders - Mortgages, Money - The Independent

Don't take no for an answer from mortgage lenders - Mortgages, Money - The Independent

Two-thirds of borrowers are being turned down for the best loan deals, a mortgage expert claimed this week. "We know that for some of the best headline rates available on the high street, up to two-thirds of applicants are being turned down," says Ben Thompson, managing director of the Legal & General Mortgage Club.

He's not alone in highlighting the trend. Melanie Bien, director of the independent mortgage broker Private Finance, agrees and claims that some lenders are cherry-picking the best borrowers. "Some lenders, which often top the best buy tables, seem to regularly turn down applicants.

No comments:

Post a Comment