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Specialist Mortgages

Not all mortgages are straightforward. Some circumstances command a more specialist approach. These mortgages are designed to accommodate individuals with non-standard financial situations, such as self-employed individuals, freelancers, contractors, expatriates, and those with adverse credit histories. Specialist mortgages typically involve a more personalised underwriting process, considering various factors beyond the standard income and credit checks.

Lenders offering these mortgages take into account the borrower's individual financial situation and assess the risk accordingly, often resulting in a higher interest rate or stricter terms. While specialist mortgages provide an opportunity for individuals with unconventional backgrounds to obtain home financing, potential borrowers should carefully consider the terms and costs associated with these products before proceeding.

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Self-employed mortgages are home loans specifically designed to cater to the needs of individuals who work for themselves or own their own businesses. Unlike employed mortgage applicants with easily verifiable income, self-employed borrowers often face unique challenges when seeking home financing.

You can read more about some of these topics below

Limited Company Director
Self employed with one year accounts

Buy to let mortgages self employed
Self employed mortgages FAQ


 

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Home interior design

Contractor Mortgages

Whilst Contractors often earn more than their PAYE counterparts, it may be more difficult to get a mortgage as a Contractor as your income will be perceived as less stable. An increased number of UK Mortgage Lenders are beginning to offer mortgages to Contract workers, meaning there are more options available now than in previous years.

IT Contractor Mortgage
Bad Credit Contractor Mortgage
First Time Buyer Contractor Mortgage

 

Bank of Mum and Dad Mortgages

With average house prices increasing at a rate beyond wages, so called Bank of Mum and Dad mortgages are becoming more common.

For some people, especially first time buyers, assistance from family is the only way that they will be able to buy their dream home or even get on to the property ladder.

Read more about bank of mum and dad mortgages here

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Professional Mortgages

there are currently some mortgages tailored to professionals. They are usually provided by standard lenders with a standard product range, but they also offer products that could be more favourable for professionals.

These might offer higher income multiples, potentially lower interest rates, reduced fees or perhaps a specialist approach to underwriting, with more niche criteria.

The principle behind it is that some lenders view professionals as lower risk, due to perceived long term job security or increasing salary levels.

Read more about professional mortgages here

These borrowers often face specific challenges due to their age and potentially reduced income during retirement. Lenders are cautious when providing mortgages to older borrowers, as they need to assess the borrower's ability to meet repayment obligations during retirement years. Some older borrowers may have a reliable pension or investment income, making them less risky to lend to, while others may have a more uncertain financial situation.

Interest only mortgage expiring
Pension mortgages
 *
Lifetime mortgages *
Retirement interest only mortgages *

*Please Note: Henden Financial Limited refers to carefully selected preferred partners for Later Life services and receive a referral fee.

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Specialist Mortgages

These mortgages are designed to accommodate individuals with non-standard financial situations, such as self-employed individuals, freelancers, contractors, expatriates, and those with adverse credit histories. Specialist mortgages typically involve a more personalised underwriting process, considering various factors beyond the standard income and credit checks. Lenders offering these mortgages take into account the borrower's individual financial situation and assess the risk accordingly, often resulting in a higher interest rate or stricter terms.

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Henden Financial Limited

Guiding you through the process of securing a specialist mortgage

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