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This article was initially published back in 2019, and now this information has become outdated. Everything was 100% accurate at the date that this article was published.
Experian statistics show that lenders rule out 33% of all mortgage applications due to mismatches in criteria.
The statistics highlight the importance of customer care and 5-star service when using a mortgage broker in Birmingham. It’s all about the value of the customer and helping them pass the lender criteria the first time.
Experian also found out that only 3.5% of people searching for mortgages were eligible for deals on the market. However, just because you had seen these cheap deals online, it cannot guarantee that you will qualify for it.
As our customer, we will offer you full customer service, trying to find you the perfect deal.
Experian had shown that 22% of applicants started using price comparison websites to find the right mortgage.
We recommend that if you happen to fall inside that demographic, remember that price comparison websites exclude matching a lender’s criteria.
On top of that, the application can take weeks to process, not to mention that the lender can dismiss your case. Ideally, please speak to one of our mortgage advisors in Birmingham. They can search thousands of deals and pick the right ones tailored for you, saving you time and money.
The analysis also showed that 27% were eligible for a mortgage but only for a reduced amount to meet the lender’s affordability requirements. Again, we find this happens all the time. A lender says you can borrow one amount but find a reason to reduce the mortgage available down the line.
Our customers are our priority, and as a trusted mortgage broker in Birmingham, whether your self employed in Birmingham or looking to remortgage, we’ll recommend the best deal tailored to you and ease the pressure throughout the entire purchase. Our brilliant mortgage advisors and outstanding back office team will do the bulk of the work for you.
Date Last Edited: December 6, 2023
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Birminghammoneyman.com & Birminghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Birminghammoneyman.com & Birminghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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