Chris Morgan is the Lead Financial Adviser at Unusual Mortgages, who are the UK’s leading experts at placing Complex Mortgages …
His clients normally approach him with bespoke and of course “Unusual” circumstances. Chris has nearly two decades of experience in placing mortgages for people in difficult situations and is a former finalist in the Financial Times, Mortgage Adviser of the year contest.
Most UK mortgage advisers solely rely on computer software to find mortgages for their clients, ticking boxes and answering rigid criteria questions. But, what if your circumstances do not fit into boxes, or your requirements are more “Unusual” than the computer software can handle?
Chris regularly undertakes bespoke research on behalf of clients who are looking for Mortgages that do not fit into boxes. Here are some examples of recent research he has undertaken …
Income & Affordability (Residential)
“Mortgage Lenders have become difficult to deal with and are always finding new reasons not to lend money!”.
By far the most common question that clients ask Chris, is related to their ability to meet the Income and Affordability requirements of Mortgage lenders. Especially people with Unusual types of employment and income that are finding it very difficult to obtain mortgage finance.
Did you know?
That the vast majority of mortgage lenders require self employed applicants to have been trading for three years and have accounts or financial statements for three years? However, there are in fact mortgage lenders that will accept only two years accounts or tax returns. (Of course we know which ones!)
Income & Affordability (Buy To Let)
“We have seen a dramatic change in the way that Buy To Let Mortgage lenders assess an applicants affordability”
Earlier in the year Unusual Mortgages conducted detailed research into the state of the Buy To Let mortgage market. We discovered that only 19%* of Buy To Let lenders have no minimum income requirements for applicants, with 81%* of lenders requiring between £20,000 and £50,000 of verified personal income for them to agree a Buy To Let mortgage.
Did you know?
That 3%* of mortgage lenders, are willing to offer Buy To Let mortgages without any form of Income verification, which of course we have found to be the most relevant statistic to some of our Unusual clients. There are still lenders willing to offer Buy To Let Mortgages without any Income checks to certain groups of people, (Of course we know which ones!).
Click here to read our Buy To Let Mortgage Survey 2015 http://www.unusual-mortgages.co.uk/?p=99
Knowledge & Experience
Unusual Mortgages are the UK’s most experienced financial advisers at finding Unusual mortgages for both employed and self employed people, who are finding it difficult to acquire finance. We have specialist knowledge of Self Employed Income, Multiple Mortgages, Expatriate Mortgages, Buy To Let (with or without Income Verification), Minimum Income Requirements.
Visit www.unusualmortgages.co.uk for our free Large Mortgage Fact Sheet
If you require more information on Large Mortgages, Buy to let, Self Employed or Executive Mortgages you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk
*All facts and figures in this report were compiled in the Summer of 2015 by our lead financial adviser Chris Morgan after contacting 70 of the UK’s leading mortgage lenders.