Refused a mortgage?

There are many reasons why a lender may refuse to give you a mortgage, however they do not have to give a reason why. It may be because:

your income is not sufficient to repay the amount you want to borrow
you have a bad credit history. This may cause a lender to turn down your mortgage application, even if you can currently afford to repay a mortgage.
you have too many outstanding loans or other commitments
your job is not permanent, is at risk or you have only recently started employment
your bank statements do not show that you can save or manage your money or
the house you want to buy has not been approved by the lender's valuer.

Your lender will check your credit history before they decide to give you a loan. Most lenders use a central agency, the Irish Credit Bureau, which keeps files on individual borrowers. If you are turned down for a mortgage and you have never had problems repaying your loans, you may want to check your credit record.