Taking on a home mortgage in today’s world is no small feat. There are other financial stresses which affect everyone each day which are difficult enough to keep up with. There are food costs, petrol costs, clothing costs, and more. Affording basic necessities is saying a lot in these days with slow wage growth and inflation creeping in to many of the products we must have each day. Now, there is another challenge facing potential home buyers. Lenders are being blamed for not keeping pace with the needs of the modern borrower.

In a recent survey, the needs of today’s home buyers are not being met, according to the lender Together. The survey reflected the concerns of potential home buyers turned away due to unique lifestyle choices or purchasing decisions.

The survey took a close look at applicants and discovered 54% failed to obtain lending because they did not conform to a normal purchasing decision. They were also denied lending due to the choice of career, like being self-employed.

Results of the survey caused much concern due to the critical nature of decision making being practiced by lenders.

Pete Ball with Together commented on the results of the survey and the possible negative implications it could have on the mortgage industry in general, saying: “Some banks and building societies remained reliant on a computer automated approach and outdated and rigid criteria when deciding mortgage applications but the world has changed.”

The survey included 2,000 participants who had fallen out of the lending process.