Just 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.
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:
- You have a poor credit history and BKR coding, in the Netherlands, this is monitored by the BKR organization.
- The valuation of your house is lower than your purchase price;
- Your income is not in Euro;
- 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.