What are the reasons to-let investors get their mortgage rejected !
When you have made up your mind about a suitable investment property, you never want that the application should get rejected for that. Making your mortgage less stressful requires you to take care of several things. Buying a to-let mortgage in Essex is not an easy task. It involves various issues that you need to deal with. Here are some of the reasons why your mortgage can be rejected. The value of the property is down It is one of the common reasons that your mortgage can be rejected. When the market has been rising quickly and competition increases it results in higher prices. When the property is downvalued, the lender will either make a lower loan offer or reject the application. Your credit score If you have a poor mortgage history, you are heading towards getting your to-let mortgage rejected. Because of these issues, numerous applicants dead in their tracks each year. When you are getting involved in this type of activity, you should always first consult a mort