Customer Success Story: Declined by the bank

This is the story of Mr and Mrs Jones, who turned up at the door of our offices frustrated and confused after their application for a remortgage was declined by the local branch of their bank.

The Jones' wanted to make some minor improvements to their home, to the tune of £5,000. They decided that the best thing to do was to call their current mortgage lender and ask them to remortgage their existing home loan on to a better deal and take the extra cash out at the same time, a seemingly simple strategy.

However, after making the journey into town to see their bank's in-house Mortgage Advisor, with a full set of supporting documents in hand, they were left disappointed and frustrated by the bank's decision to decline their loan, and offer little explanation as to their reasoning.

Determined to achieve the outcome they sought, they went online in search of independent Mortgage Advisors in the area and found us, they came straight to our office and walked almost immediately into an appointment with one of our advisers.

The following is a timeline of the events that followed.

11:00am - Mr and Mrs Jones arrive at our office for an appointment with a whole of market Mortgage Advisor.

12:30am - An application for their remortgage is packaged and a Decision in Principle obtained from a new lender.

1:00pm - Supporting documents are supplied to the lender and the final application submitted.

2:00pm - A valuation of the Jones' property is undertaken automatically and a mortgage offer is produced by the new lender.

The Jones' new mortgage deal worked out at £80 less than their previous monthly payment and gave them the additional £5,000 they needed to begin their home improvements.

In just three hours of work, we helped Mr and Mrs Jones achieve what their bank refused to give them and got them a cheaper deal in the process.

This particular case was straightforward for us to work on, with few complexities to consider and a suitable outcome quickly identifiable. Not every case is this fast, but speaking to an independent, whole of market Mortgage Advisor could end up saving you a lot of time, money and stress.

All of our initial consultations are completely free of charge and obligation. To book yours, call now on 01823 286271 or visit

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