Tag: application

mortgage application declinedJust bought your dream house in the Netherlands and now your mortgage application is declined? What is the next step to turn this rejection into approval? Read this article to understand why your application is rejected and what you can do to increase your chance of getting your mortgage application approved.

No problem, we have good experiences with arranging a mortgage. Based on a second opinion, we can quickly inform you about the possibilities.

Why has your mortgage application been rejected?

It is good to know the reason for rejection. It sounds strange, but often this information is relevant to the right solution. A ground for rejection at one bank need not necessarily be the same at other banks. And to make it sound stranger; Sometimes we receive approval on the mortgage application from the same lender where you received a rejection.

It is also good to know that we are not afraid of a special or difficult situation. However, you must realize that the rejection in a mortgage application often comes at a (too) late time in the application process. Stress and consultation with the seller, if you buy a house, are therefore inevitable our experience.

This allows us to unburden you when we see opportunities for a positive mortgage application. If it has to be done quickly you can take a so-called emergency mortgage advice. Then there is clarity about the feasibility within 1 working day. We understand that you want to be clear as quickly as possible, also because you have made agreements with the seller. This uncertainty can also cause them concern.

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Reasons why a bank declines your mortgage application

In the list below you can find a number of reasons why the lender of your first choice has rejected the mortgage application:

  1. You have a poor credit history and BKR coding, in the Netherlands, this is monitored by the BKR organization.
  2. The valuation of your house is lower than your purchase price;
  3. Your income is not in Euro;
  4. The residence permit does not qualify.

Mortgage rejected at the last minute

In practice, we regularly see that the rejection of your mortgage application is announced at the last minute. Then the financing reservation has almost expired and you are standing with your back to the wall. Then you need to get started quickly in order to get an assignment from another lender.

You can also consult us if you still have to work at the last minute for a mortgage application.

A piece of cake for bleeding is that you already have a complete set of documents required for the mortgage application in this phase. Because of our experience, we can quickly oversee your case and provide you with the correct mortgage advice.

Tell us your story

For applying for a mortgage scan please contact us. Mortgage application declined in the Netherlands, contact us for a free second opinion.

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bkr coding mortgageIs your mortgage application declined because of a BKR coding? First of all: don’t panic. We can help you increase your chances for a mortgage application. Most of the time this rejection comes at a really inconvenient moment. Especially when you are in the process of buying a house.

What is BKR?

If you have obtained for credit or a mortgage, the information is registered with BKR. At that moment the loan provider keeps the database from BKR updated with your payment behavior. You will be coded if you have caught up overdue payments for a number of months. Each credit type has a different period. For example, for mortgages, this period is 3 months.

If you have caught up overdue payments, a rehabilitation code will be noted in your BKR overview. This is called a “herstelmelding” (rehabilitation). This information will remain visible for a period of 5 years after the contract ends.

Mortgage declined because of a BKR code

A lot of mortgage providers decline a mortgage application if you have a BKR-code. Also, some lenders prefer to lend to a specific demographic. As independent mortgage advisers, we have experience of the market and can help you obtain a mortgage. We will be aware of what different lenders require before offering you a mortgage, and we will speak to the lender on your behalf.

We can make a scan about the possibilities of obtaining for a mortgage if you provide us information regarding your income and the property you want to buy.

Administration errors BKR coding

Lenders aren’t perfect. Some of them put the details from your application into a computer so you might have failed because of a mistake or error on your BKR-file. If you want to know what is registered you can easily download your BKR-file. For a mortgage application, we also need a copy of this BKR report.

Each mortgage application is logged in your BKR-file. Repeatedly applying for a mortgage makes it look like you have problems, so try to avoid this situation. We prepare your mortgage application and will search for a solution.

When is it possible to apply for a mortgage?

If you have a BKR-code it is necessary that you meet the following standards:

  • there is a rehabilitation code (H-erstelcode) visible on your BKR overview;
  • the loan has an end date;
  • your current situation is stable and steady.

Have a question?

For applying for a mortgage scan please contact us.

Hassle free all the way.
We deal with banks on your behalf, all the way through until 100% completion.
Expert advice you can trust.
Best services are guaranteed for you.
Response within 24 hours
Often sooner.