Mortgage Insurance Calculators About How it Works
   Back | How it Works
Securing an excellent mortgage offer with Revolution Finance Brokers couldn't be easier
1Get in Touch
Complete a quick form to give us an overview of your mortgage or financing requirements, and we'll provide recommendations about the best opportunities for you.
2Submit Your Application
Once you've chosen your preferred mortgage deal, we'll steer you through the paperwork with comprehensive application management from start to finish.
3Mortgage Completion
Revolution Finance Brokers will finalise the details and enable you to move forward without delay!
   Back | About
   Back | Insurance
   Back | Calculators
   Back | Your Mortgage Position
Your Mortgage Position
Bad Credit
Buy to Let
Development Finance
Self Employed
Mortgage for professionals
Lifetime Mortgages
Expat mortgages
Interest Only
Mortgage Affordability
Mortgage Application
Income Types
Residential Mortgages
Commercial Mortgages
Property Types
First Time Buyers
Mortgage Declined
Offset Mortgage
   Back|Bad Credit
   Back|Buy to Let
   Back|Self Employed
   Back|Expat Mortgage
   Back|Interest Only
   Back|Income Types
   Back|Property Types
   Back|Other Mortgages

How Can a Broker Improve My Mortgage Eligibility Assessment?

How Can a Broker Improve My Mortgage Eligibility Assessment?
Why Revolution Brokers?

Whole of market brokersWhole of market brokers

Mortgage that suits youMortgage that suits you

On time customer supportOn time customer support

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

Almas Uddin16 Aug 2023

How Can a Broker Improve My Mortgage Eligibility Assessment?

Finding a mortgage with any eligibility issues can feel like an uphill struggle. The good news is that an independent broker can substantially improve your chances of approval by:

  • Assessing your circumstances and comparing your requirements to the lending rules from all of the mortgage providers across the UK.
  • Negotiating terms and rates on your behalf.
  • Working directly with lenders to understand any risk factors and agree on ways to mitigate their exposure to make sure they are comfortable lending.
  • Advising on different borrowing products or ways to make the mortgage more affordable, such as extending the term.
  • Helping you compile your application and recommend what documentation to include to ensure the lender can offer approval.

In this guide, the Revolution Brokers team explains the most common eligibility requirements that cause a stumbling block and the best options to ensure you can find the home loan you need.

For tailored advice and help with your application, give us a call on 0330 304 3040, or drop an email to [email protected].

How Does a Bad Credit Mortgage Work?

The most typical reason to be turned down for a mortgage is due to bad credit. However, there are many options out there, and a whole-of-market broker can run through them with you.

Options might include:

  • Applying to specialist bad credit lenders rather than a high street bank.
  • Offering a more significant deposit value.
  • Improve your credit score before beginning the application process.

Get in touch if you have been turned down for mortgage lending due to credit issues, and we'll discuss the best course of action based on your circumstances.

Do Mortgage Credit Checks Further Damage My Credit Score?

Yes, they can do it, which is why it's so important to work with a broker who will ensure you apply to the right lender the first time.

There are two types of credit checks - soft checks are usually carried out for initial approvals in principle. Hard checks do appear on your credit file and are required for a full application.

Applying to multiple lenders could mean racking up a significant number of checks on your credit file, which can put off any future providers you might apply to - even if they would have approved your mortgage beforehand.

Are There Mortgages for People on Benefit Income?

Again, many people are rejected for a mortgage because their income includes benefits or assume they won't be approved and don't apply.

A broker can ensure that you apply to a lender who offers mortgages suitable for applicants on a range of benefit income, whether that is your primary source of earnings or supplements a salary or other income stream.

There are also mortgage interest support programmes, and so Revolution can recommend mortgage schemes designed to make it easier for you to get onto the property ladder.

What About a Mortgage for a Self-Employed Person?

Lenders often struggle with self-employed applicants if they don't have three years worth of trading history or filed accounts and tax returns to demonstrate their average annual income.

The good news is that a whole-of-market broker can help in this scenario and even connect applicants with lenders who will offer a mortgage to self-employed people with just a year or less of trading.

How Can I Increase My Maximum Mortgage Offer?

Another typical problem is that you are approved for a mortgage, but the lender caps the offer at a value lower than you need to buy your dream property.

First up, that maximum will vary significantly between lenders. The industry standard is to offer around four times your annual income, but Revolution Brokers can almost always find you a higher offer - because:

  • Some lenders have more generous salary multiples than others - so you will increase your mortgage offer simply by applying to the right provider.
  • Lenders have varying policies about how they calculate your income. Some won't include any bonuses, commissions, or overtime, for example, while others who include 100% of this income might offer a much higher amount.

Can a Broker Help Me Find a 100% Mortgage?

Mortgages with no deposit are rare since most UK lenders need at least a 5% deposit, and commonly 10%, to consider approving an application.

However, as with all of these scenarios, a whole-of-market broker can invariably find a solution.

That might be:

  • Considering a Shared Ownership Mortgage.
  • Using another borrowing form to finance the deposit.
  • Putting a guarantor in place in lieu of a deposit.

Are There 95% Mortgages Available?

If you have a 5% deposit, you might find that many mainstream banks still reject your application - but there are plenty of alternatives.

Help to Buy is one option and can boost your deposit by 20% of the property value on an interest-free basis for the next five years.

You can also find 95% mortgages for new-builds, and if you have a good credit rating, it's possible to negotiate competitive terms even with this lower deposit value.

Expert advice With Mortgage Eligibility

As we've discovered, there are many reasons a high street bank might reject a mortgage application, which can usually be overcome by working with an independent, whole-of-market broker.

The best course of action is to give Revolution Finance Brokers a call, run through what mortgage you need and the surrounding circumstances, and we'll work with you to ensure you can secure the borrowing you need.

Give the team a call on 0330 304 3040, or drop a message to [email protected].

Related Posts
What Are The Monthly Repayments On 200k Mortgage In The UK?

Figuring out the monthly payments on a 200k mortgage in the UK can be confusing. One fact to know is that these payments vary widely. Our article breaks down everything you need to understand about the salary needed for 200k mortgage UK-wise, from repayments to income requirements. Stay tuned for clarity! What is a 200k mortgage and..

Read more 
How To Get A Property Investment Loan?

Finding the right loan for your property investment can feel like a maze. One essential piece is understanding what a residential property investment loan is. This blog post will guide you through getting one, from application to approval. Keep reading to unlock the potential of your next investment. What is a Residential Property I..

Read more 
What Mortgage Can I Get On 50k Salary In The UK?

Wondering what mortgage on 50k salary UK-wise you can get? Here's an interesting fact: the mortgage advisor typically offer between 3 to 4.5 times your annual income. This article will guide you through understanding how much mortgage you could be eligible for on that salary. Keep reading to find out more! How to Determine What Mort..

Read more 

FCA disclaimer

The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature.

We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.