Specialist mortgages are alternative loan solutions offered by a small segment of the mortgage market, against properties that don’t offer the same security as your typical standard mortgage.
Mortgage loans for self-build properties, Student lets, Houses of Multiple Occupancy (HMO), refurbishment projects, commercial property and development finance, all bring with them a specific set of risks that only a niche section of the mortgage market will accommodate.
If you are looking for an alternative lending solution, then our team of specialist mortgage advisors can help you understand what loan options are available and search the market to find the best suited financial solution for you and your property.
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Self Build Mortgages
If you are looking to redevelop your property or a property that you intend to make your home, then you may want to consider a self-build mortgage. Self-build mortgages are designed for anyone wanting to rebuild or redevelop property that they live in or intend to live in.
Only available through certain lenders that are specialised in this type of self-build mortgage product, the lenders take a higher risk due to the property not being of high enough value yet, to secure their funds against. They also risk that the build might not be done successfully or to a correct standard - so need certain assurances during the application process, to approve the loan.
Lenders for self-build mortgages will look at your affordability and experience. The lender will need planning consent and will ask for detailed plans and costs assessments to ensure they agree with the build process and the cost of the build. They generally fund the build in stages and can do this on an ‘advanced’ (giving you the money upfront to build or ‘arrears’ (you use your own funds to start the build and get paid after each stage is complete) basis. A self-build lender will offer products that also fund the build.
It is vital to work with an experienced broker for this type of loan. Our experienced mortgage advisors have access to all the lenders and specialist funders for all types of self-build mortgages. We will be able to search the market for you, to find the best-suited lender and handle the entire mortgage application process, whilst also helping you through all stages of the funding process.
If you are looking to finance the purchase of a commercial property to expand your business, or you’re hoping to refinance an existing commercial property, then you may want to consider a commercial mortgage.
Commercial mortgages are assessed in much more detail than with a standard mortgage application, and are mainly concerned with providing evidence and assurances to the lender about the security of the business. Each commercial mortgage is underwritten on an individual basis, with commercial mortgage lenders looking at both the applicant and the business during the application process.
Commercial mortgages generally have higher rates and require higher deposits, however, our team of specialist brokers will be able to assess the market and provide you with the best-suited lender and product based on yours and the business's financial needs. We have years of knowledge and experience in dealing with these specialist lenders and commercial mortgage products, so you can be confident you have our expertise on your side.
If you are a property developer or landlord looking to build or refinance your property portfolio with student lets or Houses of Multiple Occupation (HMO), then we can help you with your HMO mortgage application.
A HMO mortgage is a specialist mortgages only available from a smaller number of lenders, due to the loan being dependent on ‘multiple’ people paying the rent to afford the mortgage. A HMO property is an investment with a smaller section of the market, so if the lender needed to repossess the property the market to sell this type of property is limited to HMO investors only. Therefore, HMO mortgage lenders tend to require experience and larger deposits for this type of finance.
HMO mortgages can have certain legal requirements attached them such as a HMO license, and often require additional criteria to be met, such as additional income not derived from the HMO, in order to approve your application. They also require landlord experience and can have limits on the number of rooms etc.
When working with our HMO mortgage specialists, we will help you navigate the specialised application process and will compare the market to find the most suitable lender, rates and product to suit your specific needs.
Property Development Finance
If you are a property developer looking to finance your property development - we can help you source the best suited finance available. Whether you are building from the ground up, extending or carrying out a full refurbishment, our property development finance experts can help you understand what finance options are available from across the market.
There are many different types of development finance solutions available from high street lending to private investors, mezzanine finance and many more. A ‘mix’ of different types of finance can also be achieved, if the right solution for you. Development finance applications are specific to each individual development, so we will work with you to understand your circumstances and needs, before searching the market and devising a bespoke finance strategy to help you make your next property development a reality.
We have worked alongside many property developers over the years, from one property to extensive multiple unit developments, so have the experience and contacts within our well-established property network, to create you a successful finance strategy.
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Latest Insights From Our Brokers
Buying, selling and moving home can be stressful enough, without the added frustration of delays with your mortgage application!
There are a few factors that can affect how long your mortgage application takes – like which lender you’re applying with or how complex your situation is. However, one delay that you can avoid, is missing or incorrect mortgage application documents requested by the lender.
Overall property has always represented a good long-term investment opportunity, and is still one of the four most common types of investments, alongside cash, bonds and shares. Resilient and a largely stable investment market, historical evidence shows that property has the power to weather huge events such as the global financial crisis and the SARS outbreak, coming out of the other side stronger.