Making Homeownership Possible for All
How can our Financial Advisers Help
Specialist mortgages offer a lifeline to individuals who have been declined by high street lenders for property purchase or refinancing, serving as an alternative option.
You could be looking for a specialist product for a number of reasons. Whether you’re looking for-
Large Loans
Finance on unusual properties
Adverse credit mortgages
Second charges
We can help you navigate these complex areas of finance.
Frequently Asked Questions
How Does a Specialist Mortgage Work?
A specialist mortgage is designed to meet the unique financial needs of individuals who may not qualify for conventional mortgages. These mortgages cater to diverse situations, such as self-employed individuals, those with irregular income, poor credit histories, or specific property types that standard lenders may not cover. The process involves a detailed assessment of the borrower’s unique circumstances, allowing lenders to tailor mortgage terms that align with their financial profile. Specialist mortgage providers often offer flexible criteria and personalised solutions, ensuring that more people can achieve homeownership despite their unique financial situations.
Is it easy to avail a specialist mortgage ?
Securing a specialist mortgage can be more involved than obtaining a standard mortgage, but it is designed to be accessible to those with unique financial situations that conventional lenders might not accommodate. Specialist mortgages cater to individuals with irregular incomes, self-employment, poor credit histories, or properties that fall outside the norm.
FFS offers tailored advice, helping you understand your options and prepare a robust application. Our expertise in specialist mortgages can guide you through the complexities, ensuring you find the right product for your needs.
How are specialist mortgages different from banks?
Specialist mortgages differ from bank mortgages primarily in their flexibility and eligibility criteria. While bank mortgages have strict requirements focusing on stable income, good credit scores, and conventional properties, specialist mortgages cater to those with unique financial situations, such as self-employed individuals or those with irregular incomes and poor credit histories.
Consulting with experts can help navigate these options and find the best fit for your needs.
What happens if I don’t remortgage after my deal expires?
The amount you can borrow with a specialist mortgage depends on several factors, including your income, credit history, and the loan-to-value (LTV) ratio. Specialist lenders are more flexible and may consider irregular income and adverse credit histories.
Consulting with financial advisers can help you understand your borrowing capacity and find the best mortgage solution for your needs.
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