Why do some higher earners find it difficult to obtain a mortgage?

Why do some higher earners find it difficult to obtain a mortgage?

If you are reading this article, it is highly likely that you are a higher earner, who has at some point applied for a mortgage but been turned down despite having sufficient income. Unfortunately, it would appear that the situation is getting increasingly worse. 

Despite having sufficient income on paper, higher earners can often have more complex income structures than most, and hence the ‘tick box’ and “one size fits all” approach of mortgage lenders are often largely to blame. The situation can often be further compounded by approaching expensive and less commercially astute mortgage advisers. 

Vik Roda, Founder of Mortgagez said: “The Covid crisis has certainly not helped the whole mortgage process for the banks, it has only continuously exasperated their resources and customers, meaning anything unconventional in relation to a mortgage application has generally been declined. Due to our relationships with mainstream mortgage lenders, here at Mortgagez, we are often able to avert an application from being refused. It’s also worth noting that if you use our safe and secure online platform, our service is fee-free, irrespective of the size of your loan.” 

We know from the customers that we deal with at Mortgagez that many people in this situation have struggled because of their more complicated income structures or the fact that they did not have a monthly pay cheque as proof of income.  This is despite having substantial savings, other assets and multiple income streams that far exceed those required by the conventional application process. 

Not surprisingly many higher earners have lost faith in going direct to their banks/building societies to obtain a mortgage, and this is largely due to the inflexible application processes and box-ticking methods, often resulting in a set of ‘sorry…but the computer says no’ type scenarios. A similar story runs true for property investors and buy-to-let landlords. 

It’s especially frustrating when the process takes months to complete and results in an application being declined. That can often have serious repercussions for those in a chain. 

That’s why it often makes sense to work with an experienced mortgage adviser who is able to assist with your mortgage application every step of the way and pre-empting a situation where an application may be declined. That is the service that we can offer here at Mortgagez. 

This is because our experienced mortgage advisers here at Mortgagez, specialise in dealing with the needs of wealthy and ultra-wealthy individuals. We are on hand to help you overcome the difficulty of verifying your income. 

So, if you are a higher earner, or if have a variety of income sources, or have been turned down by your high street bank, or simply baulk at the cost of speaking to an adviser with no certainty that they can actually help you (under an arrangement where you pay whether you win your mortgage or lose), then please don’t join the many thousands of wealthy customers that get turned down for a mortgage through no fault of their own – visit our portal today to find out how much you could save on your next mortgage and obtain a Mortgage in Principle in just a few simple steps – with no charge for our service. 

PLEASE NOTE: Article written 12 February 2021. Information contained within this article is likely to change and therefore should not be relied upon or form part of any form of decision making without seeking professional advice. * 


Any guidance and/or advice contained within this document is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. Any technical or regulatory information contained within this document was correct at the time of producing it but as it may be subject to change it should not be exclusively relied upon when making a financial decision. The Financial Conduct Authority does not regulate advice on Buy to Let mortgages.  

Article written: February 2021                                                                                                         

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