Each and every UK Bank and Building Society has it's own Mortgage and or Remortgage Lending criteria, though the basic principles are the same. Although I've worked in the industry for over 20 years today I'm going to reveal the secrets of the Banks’ lending decisions.

First off let’s lay some ground rules for things they cannot decline you for.

Your mortgage application cannot be declined based on whether you are male or female. If you see the car insurance advert for "Sheila’s" or "Diamond" which only accept lady drivers well that's not allowed in the mortgage market.

Secondly you cannot be declined based on race, creed or colour. Finally religious beliefs and disabilities you might have are also unable to be used as reasons to turn down applications.

One common criterion you must fill, and it's due to UK contract law rather than lending policy, is you have to be over 18 years of age.

Right, now some trade secrets.

Lenders look on money like it is their stock, the same as a shop owner does. Each lender will have a certain amount of money to lend and when it's gone it's gone. They "buy" money on the money markets at a certain percentage price above the Bank of England (BoE) base rate.

Then lend it to the public at a higher rate and as with any other sort of stock the difference between the buying and selling price minus their overheads equals the profits.

If they have money available at a great rate then they can be very picky who they lend it to, and will set high standards of credit history and the amount of deposit required.

If the rate is not so good then people with excellent credit and high incomes can easily get a better deal elsewhere. Though people whose credit rating is not so good cannot be so choosey and if it's the only mortgage they can get they will still be happy to take it.

Lenders looking to aggressively increase their market share will have an easier criteria as in their eagerness to get more new customers forces them to accept people who may well be turned own elsewhere.

Remember each time you apply the lender will do a credit search and this leaves a "footprint" on your credit history that will be seen whenever another lender does a search. So, too many searches in quick succession will be harmful. The lender will be worried why you have applied at so many other banks and obviously turned down.

Speak to one of our brokers if you are concerned about your history as they can suggest the best lenders for your credit profile.