I was recently contacted by a client wanting to buy a new build house in Flixton, Manchester. Barratt Homes have a new development in Flixton, Manchester called Scholar's Green (see https://www.smartnewhomes.com/new-homes/developers/branch/barratt-homes-scholars-green-manchester-82863/?from_fd=1).
My client was looking to buy one of these new build properties and had sold their current house subject to contract. All was good, or so she thought, but unfortunately she only had a 5% deposit and because she was looking to buy a house priced at £279,000, her mortgage lender were unwilling to extend credit facilities and loan her the money. Hence, she was not able to get a mortgage.
Getting a mortgage for a property you want to buy can often be infuriating because you believe that you have all the lending criteria sorted only to then be told that the lender will not give you a mortgage. My advise therefore is to read the pages of this blog - start with the home page and you'll find plenty of mortgage brokers who will be able to exceed what a high street mortgage lender can do and successfully broker you a mortgage.
So if you've been refused a mortgage by a high street lender, don't give up. It could actually be a blessing in disguise as you'll get a much better deal from an independent mortgage broker.