We know we say it alot, but getting onto the mortgage ladder isn’t easy. All too often people find themselves being turned down for mortgages and not being able to make that step onto the property ladder they desperately desire.

One of our main aims at Roots Mortgages is to provide the services required to support contractors and freelancers in securing the mortgage they want. This is not usually a straightforward process, and can be even trickier when it’s a first time buyer mortgage that is being sought.

All too often, lenders are not willing to commit to a mortgage deal for certain applicants. With this in mind, a new campaign has been launched to provide a voice for people who are really struggling to get a foot on the property ladder. 

What’s this campaign all about?

The ‘Thanks for Nothing’ campaign has been set up to give a voice for those out there who are unable to receive a mortgage offer, and are not getting the right support from high street lenders to secure one.

Established by mortgage firm Haysto, the campaign has been created to support those rejected by lenders due to a variety of factors. These include being self-employed or having a potentially complex set of personal circumstances.

Haysto themselves specialise in matching applicants with brokers who can help them manage things like bad credit or complex work arrangements. Their initiative will potentially help galvanise those applicants out there who may be struggling to finalise or secure a mortgage offering and have been rejected in the past.

Dealing with mortgage rejection

A high proportion of those people who are rejected for a mortgage are put off from reapplying. But with the right level of support, trying again could well result in a more positive outcome.

Often it’s a case of making things easier for the lender to fully understand your circumstances. Some lenders have very rigid and archaic ways of evaluating an applicant’s suitability for a mortgage. While this makes it easier on their part in some ways, it does mean that perfectly reasonable applicants miss out simply because they don’t fit the blueprint.

Supporting those who need support

What initiatives like the ‘Thanks for Nothing’ campaign do is highlight this trend, and aim to provide that reassurance to people who may have been rejected in the past that there are organisations out there that are on their side when it comes to securing a mortgage.

We count ourselves in that bracket. Our specialty is working to secure contractor mortgages and freelancer mortgages for workers in these fields, and we understand the difficulties faced.

It’s great to see others in the industry pulling in a similar direction. Plenty of people have been rejected for a mortgage unnecessarily and unfairly. While the mortgage industry is starting to become a little more flexible on these fronts, there is still some catching up with the modern world of work that needs to be done in some quarters.

If you are a contractor or freelancer who has found themselves rejected by mortgage lenders despite being in a good position to meet payments and your end of the bargain, do not fear. We’d be delighted to hear from you and discuss your specific situation.