Specialist Mortgages

Both domestic and commercial borrowers, in certain circumstances, require bespoke financial products and services. Those available from traditional high-street lenders, which are usually only available for the perfect applicant, are now looking dated for many. According to the Intermediary Mortgage Lenders Association (IMLA), specialist mortgage lending activity is on the rise. Having experienced annual growth of as much as 19%, the specialist mortgage sector is reportedly attracting greater attention than ever before.

Most of this shift has been attributed to the expansion of the UK’s specialist lending market, which provides an alternative to the usual high-street lending channels.

Below you will find the latest borrowing rates for our mortgage products:

Product Product Borrowing Starting Rates
Residential Mortgage 4.00%
First Time Buyer Mortgage 4.00%
Buy to Let Mortgage 4.00%
Let to Buy Mortgage 4.00%
Subprime Mortgage 5.00%
Commercial Mortgage 7.49%
Equity Release 8.00%

Special lending for complex cases

This meteoric growth is a direct reflection of applicant demand and the sector’s acknowledgement of a previous lack of product coverage in this area. In the past, entrepreneurs and the self-employed struggled to qualify for a mortgage, even though they represented approximately 15% of the entire UK workforce.

The trend is unlikely to be reduced, and it appears to have finally been noticed by lenders, or at least, the specialist lenders that are offering more proactive and flexible financial solutions than their high-street counterparts.

Beyond simple credit scores

Specialist lenders take a more realistic and accommodating approach to credit issues as opposed to major banks and lenders, who usually decline cases with even the slightest hint of credit damage, even if the individual in question was a ‘first-time offender’ and the oversight was entirely understandable.

Specialist lenders take the applicant’s wider financial situation into consideration. If they are clearly in a stable financial position but have missed the occasional payment, this in no way disqualifies them from eligibility.

Specialist lending does not follow the tick-box mentality of its mainstream counterparts, ensuring that all applications are assessed by way of individual merit.

The importance of independent broker support

The rise of specialist mortgages and loans does not mean that it is impossible to obtain a good deal on the high street. It simply means that many options are now possible to ensure you get the best deal. Whatever you are looking for.

This is where independent broker support can prove helpful. By working with an experienced broker who has no brand ties or affiliations, you can tap directly into both sides of the market to find your ideal loan or mortgage.

With many of the UK’s specialist lenders working exclusively via brokers, this is often the only way to access the specialist financial support your case may warrant.