Mortgage Action Plan! What To Do If Leeds Building Society Rejects Your Mortgage Application

If your preferred Leeds Building Society branch has turned you down for a mortgage, it can be tough to know what to do. Our comprehensive advice will show you the right pathway to mortgage success with a more suitable lender.

Mortgage Action Plan! What To Do If Leeds Building Society Rejects Your Mortgage Application

Applying for a mortgage can be daunting if you're not familiar with what lenders will look for on your application - and more so if you have been turned down by your regular bank or a standard high street lender.

Leeds Building Society is one of the mainstream UK mortgage lenders and a well-respected provider. However, there are many reasons you might have been rejected, and it's essential to understand the potential causes.

Here the Revolution Brokers team will explain some of the common reasons for being turned down for a Leeds Building Society mortgage - and how to ensure your property purchase gets back on track!

For personalised advice and help with your mortgage application, please contact the Revolution team via email at or by giving us a call at 0330 304 3040.

Why Has My Leeds Building Society Mortgage Application Been Refused?

First, let's think about some of the typical reasons your application may have been rejected:

  • You don't have a clean credit report.

While Leeds Building Society is one of the mainstream lenders who sometimes offer bad credit mortgages, this isn't universal and will depend on the nature of the credit issues.

Applicants with any unsatisfied faults, CCJs or DMPs are usually automatically rejected.

  • You are self-employed and want to apply based on last year's income.

Self-employed mortgages vary considerably between lenders. Some will want to see a few months of regular trading, whereas Leeds Building Society will need to view a minimum of two years of accounts.

Suppose you have been self-employed for a shorter period, or your business changed dramatically in the last year, and you'd like to use this income to demonstrate your affordability. In that case, Leeds Building Society likely won't be able to help.

  • The property purchase falls outside of the lender's remit.

It's not uncommon for a mortgage agreement in principle from Leeds Building Society to be withdrawn following the property survey.

That might be because the valuation on the survey report is lower than anticipated or because the property falls outside of the types of home Leeds Building Society will lend against. Timber constructions or prefab concrete buildings, for example, are often refused.

  • The bank isn't happy with your deposit source.

To get past the agreement in principle stage, you'll need to explain where your deposit comes from and who is financing it. Anything like a gift from someone who isn't an immediate family member, short-term lending or overseas income won't be accepted.

  • Your income relies mainly on benefits.

While many lenders are comfortable using benefit income to see how you will repay the mortgage, Leeds Building Society isn't one of them.

In any of these circumstances, there are plenty of other lenders that will be able to help. For instance, benefit income is widely accepted by mortgage providers with more flexible income policies.

Deposit source criteria vary across the industry, and specialist self-employed mortgage lenders will be happy to lend provided they can see you have experience in your sector.

The best way forward is to contact our mortgage brokers team for an independent assessment of your borrowing needs and help with reapplying to a more relevant lender.

What Should I Do if Leeds Building Society Rejects my Mortgage Application?

If you've had a refusal, there are a few keys things to consider:

  • Avoid reapplying immediately, either to another bank or for a reduced amount. It's essential to get an overview of each lender's criteria before you apply, and having numerous rejections can damage your credit file.
  • Get the facts from the bank, so you understand why they have refused your application. You can request copies of any reports or credit file information, so you know where you stand.
  • Consult the Revolution team. Our whole-of-market mortgage consultants help thousands of applicants find the lending they need, with full support in negotiating rates and selecting lenders whose criteria match your circumstances.
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The minimum deposit depends on the type of property you wish to buy and what it is worth. Most residential mortgages require at least a 10% deposit, although 5% is acceptable in some cases and if the home is valued at less than £300,000.

New-build mortgages typically require a 15% minimum deposit.

The maximum you can borrow is based on around 4.5 to 4.75 times your annual income or the combined yearly earnings of both applicants if you're looking for a joint mortgage.

You will usually be asked for at least two years of UK address history to get an agreement in principle.

Yes, Leeds Building Society does offer interest-only mortgages. However, you will need a steep 40% minimum deposit if the property is a primary residence, as well as evidence about how you're going to repay the capital.

A referral means that the application has been passed to the underwriting team for further investigation.

That doesn't necessarily mean you won't be approved but does mean that they want to take a closer look at something, perhaps your affordability assessment or the stability of your employment.

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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.

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