formal mortgage decline

hi guys,

we had application for mortgage in last week but advisor has come back a bit negative saying things were brought up and she thinks before we get a formal decline , we should park it for a few months before applying again,

does anyone know if we have nothing to lose, or if we get a formal decline it will go against us?

thanks

Once the app is in, they'll most likely process it anyway to get the final result. A refusal won't stand against you unless you don't change whatever reason it was refused for.

And it may not be refused anyway. Banks have been far from consistent.

No harm in taking the advice of the advisor. If she believes that it will be declined. I really don't see any point in progress to formalities. If you reapply to the same organisation the historical decline decision will come up and it's always more difficult to turn a no into a yes than a maybe into a yes!!