Bank Said NO.
Having been a Banker for many years, I know first hand that if one bank says NO it does not always mean every bank will say NO. Each bank has its own appetite for files and this appetite may vary over time as the conditions for the bank changes.
More Lenders, More Options: As a Mortgage Broker we deal with a great number of lenders, many of which are large lenders who just focus on mortgages, unlike the banks where mortgages is just part of what they do, thus we are able to provide our clients with a greater number of mortgage options. Based on our experience we can assess your file and know which lender currently has an appetite for your type of file and how best to present the file so that we mitigate any risks that may be of a concern to the lender.
Alternative Lenders as a Short-Term Solution: If the file has some real challenges, there are a number of lenders who specialize in more challenging files that we have access to. Many times, these lenders can offer a one or two year term mortgage that allows you to get through the current situation so that after the year or two your file may fit with the banks again.
If your bank has said NO, please contact us and we will put our years of experience and vast network of lenders to work to provide you with the YES and the mortgage you are looking for.