Unusual Employment – Is Your Employment Status Effecting Your Mortgage Ability?

By Chris Morgan | Published: 27th May 2019

Mortgages can be difficult to obtain for Fixed Term Contract and Temporary Agency Workers? By Chris Morgan

Have you found the perfect property only to find out that the obvious high street mortgage lenders, will not offer you a mortgage on what appears to be suitable security offered to them?

Even though you have a significant deposit money and solid income affordability, they have decided for what appears to be an insignificant reason to decline your mortgage application?

It can be soul destroying exercise searching for the right property, only to find out that because you work on Fixed Term Contract or on a temporary agency contract they would decline your application.

Here are some examples of the types of situations that it may be difficult to find mortgage finance for …

  • Mortgage applicants who work on rolling fixed term contracts.
  • Mortgage applicants who work on temporary contracts through an agency.
  • Mortgage applicants who have switched their employment status from self-employed to employed recently and may be within a probationary period.
  • Mortgage applicants who have switched their employment status from employed to self employed. (Subject to minimum 12 months self-employed)
  • Self Employed Mortgage applicants with only 12 months trading figures and accounts.

We have seen many examples where high street mortgage lenders such as Halifax, Santander and Woolwich have refused clients mortgages, based on the employment scenario’s above.

However, you should not give up easily and contact the countries leading specialist adviser for finding mortgages for those in Unusual Employment situations like fixed term, agency and probationary contracts.

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across all of the lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.ukE

Unusual Mortgages – Expat Mortgages for UK Citizens living abroad.

By Chris Morgan | Published: 27th May 2019

Mortgages Can Be Difficult to find for British Expats? By Chris Morgan

Have you found the perfect property only to find out that the obvious high street mortgage lenders, will not offer you a mortgage on what appears to be suitable security offered to them?

Even though you have a significant deposit money and solid income affordability, they have decided for what appears to be an insignificant reason to decline your mortgage application?

It can be soul destroying exercise searching for the right property, only to find out that because you’re an Expat British Citizen living abroad, you are no longer able to obtain a Mortgage in the UK.

Here are some examples of the types of situations that it may be difficult to find mortgage finance for …

  • British Expats with existing Buy To Let properties still in the UK, who may wish to re-mortgage for refurbishing their properties.
  • British Expats with existing Investment properties still in the UK, who may wish to re-mortgage their Buy To Let to find further property purchase.
  • British Expats who currently live abroad and may still wish to invest into Buy to Let property in the UK.
  • British Expats who wish to buy a residential property on their return to the UK and have no current residential history.
  • British Expats who wish to buy a residential property on their return to the UK and have a broken history of employment.

We have seen many examples where high street mortgage lenders such as Halifax, Santander and Woolwich have refused mortgages, solely based upon a persons British Expat residential status.

However, you should not give up easily and contact the countries leading specialist adviser for finding mortgages for British Expats both currently living abroad and those looking to return to the UK.

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across all of the lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to Let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.ukE

Unusual Properties – Finding The Right Mortgage Lender For You.

By Chris Morgan | Published: 23rd May 2019

Two Properties One Title Deed? By Chris Morgan

Have you found the perfect property only to find out that the obvious high street mortgage lenders, will not offer you a mortgage on what appears to be suitable security offered to them?

Even though you have a significant deposit money and solid income affordability, they have decided for what appears to be an insignificant reason to decline your mortgage application?

It can be soul destroying exercise searching for the right property, only to find out that because the property is “unusual” or slightly “different” you may not be able to raise the money to buy your dream home.

Here are some examples of the types of properties that it may be difficult to find mortgage finance for …

  • Those with two kitchens in the same home, it’s fine for a home to have two bathrooms, so why not two kitchens?
  • Properties that have two houses or homes, that are contained in one set of title deeds.
  • Houses that have an annex, or smaller apartment attached and are again included under the same set of title deeds.
  • Homes that may have been altered into two seperate properties and are still contained under the same single set of title deeds.
  • Properties that are residential homes and have part of the house converted into a “Home Office” that has maybe been used for a business purposes in the past.

We have seen many examples where high street mortgage lenders such as Halifax, Santander and Woolwich have refused mortgages, solely based upon a surveyors comments relating to “Duel” properties and title deeds.

However, you should not give up easily and contact the countries leading specialist adviser for finding mortgages for “Double”, “Duo” and “Split Title” properties. We have lenders that may be willing to help!

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across all of the lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.ukEdit

Debt Consolidation – Overcoming Adverse Credit Situations.

By Chris Morgan | Published: 5th February 2019

How to Remortgage to pay off debt? By Chris Morgan

If you’re a homeowner remortgaging can, if the right mortgage is found, improve your situation. By releasing capital and paying off debts, you could re-structure your monthly costs.

A remortgage is when you replace your existing mortgage with a new one. It can mean changing products with your existing lender, or switching to another mortgage lender completely.

You should always get expert Independent Mortgage Advice, to make certain you’re making the right decisions. There are two main ways that remortgaging can improve your situation:

  • You can release Equity that’s in your property in a lump sum and use this to repay your other short term debts, like credit cards and bank loans.
  • It might reduce your monthly mortgage payment, freeing up money to repay your other debts, like credit cards and bank loans at a faster rate.

How remortgaging works – A mortgage lender will base your application on a number of things including:

  • Your credit file, if you have CCJ’s, defaults and arrears you will definitely need specialist independent mortgage advice.
  • The value of your house, via an independent valuers report
  • How much you want to borrow, being within the lenders re-mortgaging and capital raising criteria
  • The purpose of the Equity Release being suitable according to the lenders criteria
  • The amount you earn and your current outgoings. They will assess your Income and Affordability

If you’re currently in arrears with your mortgage or any other debts, your credit file will be effected and you will definitely need to seek specialist mortgage advice, as high street lenders are unlikely to be able to assist.

If you’re currently on a mortgage deal that hasn’t ended, for example a fixed term for three years, there’ll probably be an early redemption fee to pay if you remortgage, so an Independent Mortgage Adviser will need to check if this is good advice for you overall.

In principal it is a very good idea to look at consolidating debt, especially in light of any potential economic uncertainty. If you are looking to re-structure your finances or need to raise capital for any purpose then give Unusual Mortgages a call to check if you could improve your situation.

15 Minute Mortgage Assessment –Unusual Mortgages offer a 15 minute free mortgage assessment over the phone to assess your ability to raise capital. We will assess your options across 70 lenders on our research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from one the most experienced mortgage brokers in the United Kingdom.

If you require more information on Equity Release, Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.ukEdit

Retirement Mortgages – Repay Your Interest Only Mortgage.

By Chris Morgan | Published: 2nd October 2018

Is Your Interest Only Mortgage Coming to an End? by Chris Morgan

Unusual Mortgages have been approached recently by a number of clients where their mortgage terms are coming to an end in line with their retirement. Many lenders refuse to continue mortgages past retirement age, making them unsuitable for the clients purposes.

We have met clients who feel pressured by their current lender and some have almost been placed in “breach of mortgage contract” by their  lender, because they have struggled to find a replacement product. We are here to assist and help in these circumstances.

Real Life Situations by Chris Morgan, Retirement Mortgage Expert

Names: John and Margaret, Ages 55 and 62, Approaching Retirement, Existing Self Certified Mortgage (coming to an end)

John and Margaret were worried about their Interest Only mortgage which still was outstanding on their property valued at £900,000. They took out a Self certified mortgage around 15 years ago and were not required to provide a repayment vehicle by the lender. This means they are short of options to repay this amount, as the end of term gets nearer.

We helped them draw £100,000 on a Retirement Mortgage to clear their £76,000 mortgage, so they could remain in their property and have a cash reserve to use as they choose. The new arrangement was an Interest Only Mortgage, which still has monthly interest payments, unlike Lifetime Mortgages which do not.

Client Quotes: 

“It is very important to us both that we are able to remain in the property, without the pressures of moving and changing social aspects of our lives. The former Interest Only Mortgage had become a burden to us, with the term ending we knew that something would need to be done”.

“We had looked at several options, including Lifetime Mortgages, but decided that because we have regular pensions coming in, it was best to pay the interest on a monthly basis and not allow it to roll up. This was best for us, even though the initial set up fees were higher”.

Unusual Mortgages Expert Advice … 

Retirement Mortgages are an ideal way to repay an existing Interest Only Mortgage, especially for those that may have interest only mortgages coming nearing the end of it’s term, or may  have ongoing regular pension income to meet monthly Interest payments.

Retirement Mortgages have to be arranged through a qualified financial adviser, who holds the higher level mortgage qualification The Certificate of Regulated Equity Release. This exam covers retirement mortgages and lending into retirement, because lenders now offer highly specialist products.

Retirement Mortgages are different to Lifetime Mortgages as the first of these allows the mortgage holder to continue making monthly interest payments, where with the second there are no monthly repayments.

If you require more information on Retirement or Interest Only Mortgages, you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Please Note: 

Unusual Mortgages are authorised and regulated by the Financial Conduct Authority. Registration number 497173. They charge a fee for arranging a Retirement Mortgage where there are continuing monthly payments. they have a minimum gross earning of £1295, where commission can be offset to reduce this overall amount payable.

Lifetime Mortgage Expert is a Trading Style of Unusual Mortgages who are authorised and regulated by the Financial Conduct Authority. Registration number 497173. The fees for arranging a Lifetime Mortgage, instead of a Retirement Mortgage are different.

They do not charge a broker fee for Lifetime Mortgages (without ongoing monthly payments) where the initial lump sum withdrawal is £50,000 or more (this is not including cash reserve) instead we receive a commission from the mortgage lender.

If you wish to draw less than £50,000 we may charge a small fee to ensure a minimum total earning of £995. Please contact us for a specific quotation. In the Lifetime Mortgage Survey 2018, the average broker fee being charged by a financial adviser for arranging a lifetime mortgage was £1281 and the largest fee charged was £2395.

Mortgage Market Report – Summer 2018

By Chris Morgan | Published: 19th March 2018

HOT MORTGAGE TOPICS 2018 By Chris Morgan

Even the most suitable “High Street” mortgages are difficult to place with lenders at this moment in time. One major high street lender I’ve been dealing with recently has imposed a five day turnaround on all documents submitted as proof of income and affordability. Every question and query raised then take’s another five days to complete, which of course is ridiculous and makes obtaining finance very difficult for applicants.

It would almost seem they don’t really want to lend any money at all, even to customers with a large 25% deposit, with a complete set of pay slips and a good credit record. Although this is frustrating it’s a clear indication that High Street lenders are still protecting their balance sheets. They simply do not have the capital adequacy to change their lending policy to the benefit of consumers.

Unusual Mortgages are experts at finding Mortgages for consumers who have been turned down by High Street lenders. In the previous market reports we have talked about Adverse Credit, Buy to Let, Returning Expats, Debt Consolidation, Right to Buy and Downward Trend in Income, Fixed Contract Income, Moving Employment, Self-Employment.

Here’s the latest Hot Mortgage Topics …

Proof of Income,

All mortgage lenders now require an applicant to prove their income and affordability, before advancing a formal mortgage offer. The amount of referencing and type of proof of income varies enormously between each applicant and depends on their employment status. Employees are almost certainly going to be asked to produce their pay slips and self-employed people will be required to produce company accounts and/or tax returns.

Employment Contracts

Employees are almost certainly going to be asked to provide a copy of their employment contract and in particular any details of short term contracts. Some lenders have very specific criteria relating to second income and also contractor incomes, so it’s best to get specialist advice around this issue because not all lenders treat these issues the same and criteria varies widely.

Financial Referencing

Self Employed people are almost certainly going to be asked for their company accounts and copies of their tax returns. Most lenders will require sight of an applicant’s SA302’s which will show the amount of income declared and the tax actually paid to the Inland Revenue in that year. If an applicant is unable to produce paper documents for a mortgage application then most lenders will be able to send an income reference to be completed by an accountant (self-employed) or to an employer (employee).

All mortgages are now agreed after careful assessment of Income and Afordability. In the next column we will look at Contractor Income, Director Status and Dividend Income.

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across 70 lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Mortgage Market Report – Spring 2018

By Chris Morgan | Published: 8th February 2018

HOT MORTGAGE TOPICS 2018 By Chris Morgan

Mortgage lenders so far in 2018 have been cautious in their approach, even with some of the more straight forward mortgage applications seeming to take an eternity to process and agree. Many of the less mainstream applicants continue to suffer, with lenders continuing to create a divide between, what is called “High Street” lending and “Non High Street” lending.

This regular Mortgage Market report aims to highlight the most frequent issues we seeing effecting consumers, pointing out where we may be able to assist applicants, where High Street Institutions may not. The most important point to remember is just because a High Street Bank turns down your application, it does not always mean that you wont be able to get the finance elsewhere.

There are a host of specialist lenders that may be able to help and Unusual Mortgages are experts at finding Mortgages for consumers who have been turned down by High Street lenders. In the previous market reports we talked about Adverse Credit, Buy to Let, Returning Expats, Debt Consolidation, Right To Buy and Downward Trend In Income.

Here’s the latest Hot Mortgage Topics …

Fixed Contract Income

We have recently met several clients who have been declined for a mortgage due to their employment being on a fixed term contract. Lenders have varying criteria in this respect, especially around the amount of time expended and left on a particular contract. There can be particular difficulties for people on fixed term contracts and income derived from any second jobs or employment.

Moving Employment

Lenders can be particularly harsh on people who have recently changed employment, or are still within a probationary period with a new employer. In reality it is better to change employment after completing a mortgage or property transaction. Those who are within a probationary period, or are changing jobs within the same industry there may be ways Unusual Mortgages could assist you.

Self-Employment

Self-Employed people have suffered the most since the last recession with changes to the way their income is assessed by mortgage lenders, especially if there is any evidence of “downward trend in income” (see previous report). Not all Mortgage lenders treat Self -Employed people the same, as criteria varies, especially in regards to length of time Self-Employed and type of evidence required.

In the next column we will look at Proof of Income, Employment Contracts, Financial Referencing …

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across 70 lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Mortgage Market Report – Future 2018

By Chris Morgan | Published: 20th December 2017

HOT MORTGAGE TOPICS 2018 By Chris Morgan

2018 is likely to see a continued tightening of lending criteria, with lenders keen to keep any capitalisation they have acquired since the last recession. With uncertainty surrounding Brexit they are unlikely to relax high street mortgage lending through banks and building societies any time soon.

This regular column aims to highlight the areas that high street institutions may not be interested in lending money to consumers. There has definitely been a divide created between what is called “High Street” and “Off High Street” lending, with the secondary mortgage market growing rapidly to meet demand from mortgage borrowers who may not be eligible for a high street mortgage.

In each Hot Mortgage Topics column we will mention some of the topical “Non High Street” mortgage situations that have crossed my desk recently. In the last column we talked about Adverse Credit, Buy to Let and Returning Expats. Here’s the latest …

DEBT CONSOLIDATION

It would seem a good idea to look at consolidating debts and loans ahead of Brexit, those with any unsecured debt or credit cards may be able to save hundreds of pounds each month. Even those with some form of adverse credit like County Court Judgements, Arrears Defaults or Late Payments could still probably consolidate their debts, through the right “Off High Street” lender.

RIGHT TO BUY

Although High Street lenders do offer mortgages on Right To Buy, they may not always lend on the type of property that you have been offered a discount. Sometimes ex-local authority properties could be of “non-standard” construction, so it can be extremely difficult to find mortgage finance. Sometimes this is due to the materials used or a defect highlighted in the building process. Although these properties can be almost impossible to mortgage, there are a limited amount of lenders that will consider offering a mortgage.

DOWNWARD TREND INCOME

One of the first casualties when “High Street” lenders tighten their mortgage criteria are the Self Employed, this is especially the case in an economic downturn. If your accounts or tax returns show what is described as a downward trend of income, then you may be declined for mortgage finance by building societies and banks. They are highly likely to treat you as a higher risk within their mortgage lending criteria.

These are just some of the “Off High Street” Mortgage types where “Unusual Mortgages” can be of use to borrowers looking for finance, in our next blog article we will look at types of income and contracts – Fixed Contract Income, Moving Employment, Self-Employment

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across 70 lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Mortgage Market Report – The Past 2017

By Chris Morgan | Published: 6th November 2017

HOT MORTGAGE TOPICS 2017 By Chris Morgan

2017 has seen many changes to the Mortgage Market in the UK, in particular to the types of mortgages available and the way that products are distributed. Since the end of the last recession there have been continued and relentless changes to mortgage criteria and the rules that govern mortgage lending.

None of these changes have been kind to consumers, with many groups of borrowers effected in their ability to raise finance and access mortgage products. This has all been very deliberate to restrict mortgage lending by banks and building societies, to firstly recapitalise, to grow their balance sheets and then generate profits.

Here’s some of the recent types of mortgages that have most definitely been effected by new government legislation and mortgage lenders criteria changes. You’re unlikely to find these types of Mortgage Finance on the high street anymore.

ADVERSE CREDIT

Borrowers with any kind of previous arrears, defaults, County Court Judgments (CCJs), repossession, bankruptcy or voluntary arrangements on their credit file are likely to find mortgages particularly difficult to obtain. The major high street lenders have lost interest in providing mortgages to this group of people and they should approach a specialist mortgage broker for advice.

BUY TO LET 

Since government changes to tax legislation Buy To Let mortgage criteria has been particularly tricky for both new and existing landlords. Some landlords are finding it difficult to draw their existing Equity for repairs to properties or to grow their portfolios. Once again the high street lenders are unlikely to offer finance and landlords should seek advice from a specialist broker.

RETURNING EXPATS

For people returning to the UK from abroad it has become very difficult for them to obtain mortgage finance, with most lenders these days using electronic credit scoring, which requires two or three years UK address history. Borrowing for this group of people has almost come to a halt, but thankfully there are some options available by taking specialist advice.

These are just some of the Mortgage types where “Unusual Mortgages” can be of use to borrowers looking for finance, in our next blog article we will look at “The Future 2018”, and what this might mean for Debt Consolidation, Specialist Mortgages, Self Employed Mortgages.

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across 70 lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Mortgage Market Report – September 2017

By Chris Morgan | Published: 4th September 2017

Buy To Let & Debt Consolidation By Chris Morgan

Unusual Mortgages have recently been getting a number of requests from landlords who wish to utilise their assets and either raise capital to purchase further properties or repay unsecured debts they may have accumulated.

We also meet landlords who have paid for refurbishments and redecorating from their own pockets and now wish to recuperate the money via a re-mortgage. However, due to the latest lending criteria this can be tricky, especially if the landlord is currently in rented accommodation themselves.

Now you may think this to be odd, but some landlords move around with their day job, particularly if they are in executive management, or are British Expats living abroad, so we often get phone calls from confused applicants whose income is strong and own properties with large amounts of equity, but are still having difficulty raising mortgage finance.

Here are some top tips for people who may find themselves in that position

1) If you are looking for a Buy To Let product for Capital Raising and Debt Consolidation and been having difficulty, then seek specialist advice, because although difficult it may be possible

2) There are only very limited lenders in the Buy to Let market and many of those have strict rules around raising capital and debt consolidation.

3) Lenders have strict guidelines and criteria around residency and unsecured debt you may have in your name, once again seek advice before applying as this is something that is complex needs to be presented to the lender 100% in the right way

4) If you apply directly and are declined it then can be far more difficult for a broker to secure you a mortgage. Sometimes it is better for an application to be presented to the lender from a specialist broker.

5) Specialist Mortgage Brokers will be able to speak with underwriters and lenders before submitting a case, to gauge their interest before submitting a formal application. This will protect your credit record and avoid “foot prints” on your credit record showing you have approached several lenders

6) Buy to Let criteria has become extremely technical since the introduction of new rules earlier in 2017, however for certain groups of landlords it is still possible to re –mortgage, capital raise and consolidate debt, speak to the experts first.

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across 70 lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages  you can contact Unusual Mortgages onUK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

  • About Us

    Unusual Mortgages are Independent Mortgage Advisers who specialise in arranging Complex Mortgages. Our lead financial adviser Chris Morgan has 30 years of experience in Banking, Finance and Mortgage Advice.

    He is a former Financial Adviser of the Year, Barclays Young Business Person of the Year and finalist in the FT Adviser Mortgage Adviser of the Year contest. He has also won a host of other community and industry awards for his consumer facing work within the finance industry.

    Chris has recently been shortlisted at The European Diversity Awards for Barclays Campaigner of Year. This is for his work as a Diversity Leader within the UK Financial Services Industry.

  • Complex Mortgage Service

    Unusual Mortgages offers highly experienced and expert advice, from an industry leading financial adviser in return for reasonable fixed arrangement fees. On a number of occasions we have met clients who were quoted elsewhere, broker arrangement fees of between 1% and 1.5% of the mortgage, which can equate to literally thousands of pounds of extra fees.

    We have developed a business model and professional advice process that allows us to offer Independent Mortgage Advice at highly competitive fixed broker fees. which are extremely low in comparison to other fee based brokers.

    Unusual Mortgages have recently saved one particular client literally thousands of pounds in arrangement fees and total interest payable over the term of his loan.

    These are the main “Complex Mortgage” areas which we can offer our advice in return for Set Fees.

    Adverse Credit Mortgages, Buy to Let Mortgages, Complex Mortgages, Contractor Mortgages, Debt Consolidation, Development Finance, Downward Trend Income, Expatriate Mortgages, Landlord Mortgages, Let to Buy Mortgages, Mortgage Term Ending, Multiple Mortgages, Mortgage Rejected, Professional Mortgages, Re Mortgages, Returning to the UK, Right To Buy, Second Home Finance, Self Employed Mortgages.

    We are especially experienced at assisting people to find mortgages with Arrears, Adverse Credit, Bankruptcy Defaults, County Court Judgement's (CCJ's) and Late Payments on their Credit Record.

    *PLEASE NOTE

    Authorised and regulated by The Financial Conduct Authority. Please note most Buy to Let mortgages are not regulated by The Financial Conduct Authority. Fees will apply for mortgage advice. We charge a set fee of between £795 and £995 payable on application, dependent on the amount of work involved, the type of mortgage you are applying for and any commission we receive from the lender on completion of your mortgage. Please contact us for a specific quotation.

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