Specialist Mortgages

If you’ve had credit issues in the past, such as missed payments, County Court Judgements (CCJs), defaults, or even bankruptcy, you might assume that getting a mortgage is out of reach.

While many traditional lenders shy away from applicants with bad credit, specialist lenders are more lenient. They focus on your overall financial situation rather than just your credit score.

If you’ve managed to stabilise your finances since your credit issues, a specialist mortgage provider may still be willing to work with you.

With the help of a mortgage broker experienced with bad credit mortgages like us, you may be able to find a lender that understands your circumstances and is prepared to offer a deal.

Self employed individuals often find it difficult to secure a self employed mortgage with traditional lenders, especially if they have less than two years of financial records.

Most high street lenders prefer applicants with a steady, long-term employment history.

Specialist lenders, however, understand that many self-employed people, freelancers, and contractors have fluctuating incomes.

These lenders may accept one year of accounts, or in some cases, additional documentation like projected earnings, retained profits, or a higher deposit.

Again, this is always worth discussing with a mortgage broker before applying for any specific product.

As you approach retirement age, many high street lenders become cautious about offering mortgages due to concerns over future income.

Age limits can also restrict your ability to secure a loan, with some lenders capping the borrowing age at 70 or even younger.

Specialist lenders, however, provide tailored mortgage products such as retirement interest-only mortgages (RIOs) and equity release, which are specifically designed for older borrowers.

These mortgages allow you to borrow into your later years, often basing the loan on your pension income or other retirement assets, helping you access funds without the worry of age restrictions.

As a specialist mortgage broker, we are able to provide support and guidance through the retirement mortgage process. Our team of expert mortgage advisors would love to take a look at your situation and help you find a solution.

Divorce or separation can significantly impact your financial situation, and if you share a mortgage with your ex-partner, you may need to restructure your finances.

This often involves removing a name from the mortgage or refinancing the loan in one name.

Specialist lenders can help assess your affordability based on your new circumstances, whether you’re keeping the property or buying out your partner’s share.

They are more flexible with income and credit challenges that may arise during this time, helping you move forward smoothly.

Watch the video below to learn more:

Contract workers, freelancers, and those on temporary contracts often face hurdles when applying for a mortgage.

Traditional lenders tend to favour applicants with long-term, stable employment, making it difficult for contractors and freelancers to secure a loan.

Specialist lenders, however, recognise the modern job market’s shift toward flexible work and are more open to offering contractor mortgages and freelancer mortgages

They may consider your daily or monthly contract rate over a longer period, or accept different forms of income proof, such as multiple contracts or invoicing.

By working with a specialist lender, you can secure a mortgage that fits your financial situation, even if your employment is non-traditional.

A low credit score can be a significant barrier to securing a mortgage from traditional lenders, as it’s often seen as an indicator of financial risk.

If your credit score isn’t perfect, it doesn’t mean you’re out of options. Specialist lenders are more flexible, focusing on your current financial situation rather than your score alone.

They may consider your recent financial history and how stable your income is now, rather than focusing solely on past mistakes.

A mortgage broker can help you navigate these options, ensuring you find a lender that can accommodate your circumstances and offer a suitable deal.

If you’re a buy to let landlord with several properties, securing finance can become more complicated, especially if you’re looking to expand your portfolio.

Many traditional lenders limit the number of properties they’ll finance, and managing the financial details of multiple mortgages can be complex.

Specialist buy to let lenders, however, are more experienced in dealing with landlords who have multiple rental properties.

They offer tailored buy to let mortgages with flexible criteria, helping you grow your portfolio while managing your existing mortgages efficiently.

Foreign nationals living in the UK often face extra hurdles when applying for a mortgage, particularly if they have a limited residency history or visa restrictions.

Specialist lenders are more flexible when it comes to applicants who are non-UK nationals. They’ll assess your full financial situation, including income, savings, and credit history, regardless of your residency status

If you’re working or living in the UK on a visa, a specialist mortgage can offer a solution tailored to your needs, helping you secure property even if high street lenders have turned you down.

Watch the video below to learn more:

First time buyers often face challenges, particularly if they have a smaller deposit.

High street lenders may require larger deposits, which can be tough to save for. Specialist lenders, however, offer more flexible deposit requirements, and some may accept as little as 5%.

Additionally, first time buyers can benefit from schemes like Shared Ownership, where you purchase a share of the property and pay rent on the rest, or by saving through a Lifetime ISA, which offers a government bonus to boost your deposit savings.

With these options and specialist mortgage products, getting on the property ladder is more achievable, even with a small deposit.

As you approach retirement, you may want to remortgage to secure better rates or remortgage to release equity from your property.

Unfortunately, many traditional lenders set age limits that make it difficult for older borrowers to remortgage. Specialist lenders, however, are more flexible, offering remortgage options tailored to those in later life.

Whether you’re looking for a retirement interest-only mortgage (RIO) or to release equity for retirement income, specialist products can help.

With the right mortgage advice, you may be able to remortgage and achieve your financial goals even as you get older.

Removing a name from a mortgage, often due to a divorce/separation or a change in ownership, can be a complex process.

It typically involves a remortgage or a transfer of equity, where one party takes over the full responsibility for the mortgage.

Specialist lenders are more flexible in assessing affordability for the remaining party, especially if income or credit has changed since the original mortgage.

A mortgage broker experienced in handling these situations can help ensure a smooth transition, guiding you through the necessary steps and finding the right lender for your circumstances.

If you’re stuck in a property chain or need to buy a new home before selling your current one, a bridging loan can help you finance the gap.

Bridging loans are short-term solutions provided by specialist lenders, designed to cover the cost of buying a property until your existing home is sold.

These loans offer a quick, flexible way to proceed with your purchase without being held back by delays in the sale of your current home.

Everyone’s financial situation is unique, and while we’ve covered many scenarios, we understand that yours might be different.

Whether your circumstances are more complex or you’re dealing with something completely new, chances are we’ve helped someone in a similar situation before.

Get in touch with our team today to discuss your situation, and we’ll guide you through the next steps to securing the right mortgage for your needs.