In a perfect world, your prospective mortgage lender would be on hand to answer any questions and help your loan application make its way to the approval stage swiftly.
Unfortunately, this isn’t always the case.
If for whatever reason your lender feels like you’re not a good borrowing candidate, you could find yourself on the other end of a telephone line with nothing but a ringing phone that won’t pick up to keep you company.
Instead of getting worked up, it might be better to follow some golden advice when it comes to relationships on the rocks: Sometimes you need to move on.
Here are three tips that might help you make the most of the situation and save you further financial heartache down the line.
Rejection doesn’t feel good, and while your first response might be to get angry, this won’t do anyone any good, least of all you.
Take some deep breaths and try to remember that at the end of the day, mortgage lenders have a job to do. If they decide you’re too much of a risk, you shouldn’t take it personally. And even though there’s nothing quite as annoying as being ignored, letting your emotions get the best of you can do more harm than good.
With that said, you do deserve an explanation for why you’ve suddenly fallen so far down the list of your lender’s priorities. Stay calm and politely ask your lender to tell you why your mortgage application has been rejected. If you can’t get a hold of them over the phone, try email.
If you’re still getting the run around, it may be time to try your luck elsewhere.
There is no shortage of lenders on the market, and you may find that some are more willing to work for your business than others. By utilising a qualified mortgage manager, you can explore your loan options and find a lender who makes you a priority instead of leaving you feeling unwanted.