In brief...: Mortgage rejections rise

Oct 19 2007

The number of people who have had mortgage applications turned down has soared by 60 per cent during the past six months, figures have revealed.

Atotal of 738,000 home loan applications were turned down by lenders during the six months to the end of September as mortgage firms tightened their lending criteria.

This compared with only around 463,000 mortgage applications that were turned down during the previous six months, according to financial website MoneyExpert.com.