We really need to know two things - who turned you down and why!

The first one is easy of course, but the second not so straightforward. All that most lenders will tell you is that they cannot provide you with a mortgage and suggest you contact a credit reference agency which they use. After reading this article you might like to refer to 'my credit file' - what is it?

This sort of response does not necessarily mean you have a poor credit rating. This is a standard reply which all lenders give - some are a bit more forthcoming and will give you some guidance, but not many.

There is a good possibility that you approached the wrong lender! Just because someone in your family or the chap next to you at work has a mortgage with such and such a lender it doesn't follow that they are the best for you. Some lenders do not favour first time buyers, others will not provide remortgage facilities, indeed the different acceptance criteria is quite astonishing.

Some lenders will turn you down automatically if they know you have already applied elsewhere - and they can see whether this is so immediately by reference to your credit file. They are now becoming more understanding, however, as they are begnning to realise that it is sometimes necessary to make numerous applications before one is accepted these days.

Then there are matters like income criteria, type of employment, other credit you already have, type of property, previous mortgage arrangements if any, the list is endless.

At the moment lenders are being very particular as to whom they will lend! Previous mortgage arrears, status problems (even minor ones like a late payment of a mobile telephone bill) are resulting in rejections. And one thing all lenders are very 'hot'on!  If you have current mortgage arrears or have been late with just one mortgage payment in the last 12 months, they will almost certainly refuse a re-mortgage.   And for a new purchase, no chance if you have more than one default or a county court judgement etc.    It's that bad at present!

It all points to one solution - we know who will accept which circumstance and by consulting us, as we have mentioned elsewhere, you are dealing with every lender in the market at the same time! After all, with so many potential lenders out there the chances of you picking the right one first time, or even at all, for your specific needs is pretty remote.  And remember - we will not charge you anything at all for what can be very extensive research in these troublesome times