What is a specialist mortgage?
A specialist mortgage is a type of mortgage that is designed for individuals or businesses who don’t meet the standard lending criteria of high-street banks or building societies. This could be due to a variety of reasons such as unconventional property types or sources of income that include regular overtime, bonuses, or commission.
Unlike high-street lenders, specialist mortgage lenders offer more flexibility in their lending criteria to accommodate the unique needs of borrowers. Searching for a suitable specialist mortgage lender can be a daunting task, but with the help of a specialist mortgage partner, borrowers can identify lenders who can cater to their specific requirements.
Specialist mortgage advisors have a comprehensive understanding of niche areas of lending and can quickly identify suitable lenders for borrowers’ specific circumstances. Some examples of specialist mortgage requirements include a bad credit mortgage, a self-employed mortgage, a contractor mortgage, an international mortgage, or a shared ownership mortgage.
Specialist mortgage criteria
As specialist lending is a part of the mortgage market devoted to providing alternative home loan options to borrowers who may not be able to meet the lending standards established by conventional mortgage lenders, there are a variety of reasons why a borrower may fall into the specialist category, and there is no common trait shared by specialist borrowers.
Specialist Finance Centre’s approach to specialist mortgages
Specialist Finance Centre is an ideal partner for mortgage brokers whose clients require specialist mortgage products. Our experienced team knows where to find the best solutions for a variety of unique lending needs.
We work with you and your client to identify the best specialist product for their circumstances, making the mortgage application process smoother and more efficient. Arranging a mortgage can be a complex task, and it becomes more challenging when your clients’ requirements are non-standard.
With our extensive knowledge of the specialist mortgage market, we can assist you in finding the right lender for your clients’ unique situation, saving you valuable time and resources. Our priority is to establish a long-term relationship with you and your client, ensuring that you can trust us to offer the best service possible.
