If you are self-employed, have missed a credit card payment or have complex sources of income securing a mortgage can sometimes be difficult. George Square Financial Management explains how the specialist lending market could help.
High street mortgage lenders are applying stricter lending criteria than ever before, making it increasingly difficult for borrowers to secure a mortgage. But there is an alternative to the high street; the specialist lending market can deal with more complex mortgage applications and with the help of a good, independent broker, borrowers can access mortgage deals that may not otherwise be available to them.
The specialist lending market takes a different, more flexible approach to assessing mortgage applications and is therefore able to process cases that may ordinarily be rejected by high street banks. For example, customers with complex sources of income, the self-employed, contractors and entrepreneurs make up a significant majority of specialist lending cases.
Similarly, someone with a blip in their credit history will often be turned away by traditional lenders, but the specialist mortgage market assesses applications on a case-by-case basis to help customers who fall outside the mainstream lending criteria.
Specialist lending expertise
At George Square Financial Management, we understand that not everybody ticks all the boxes of a standard mortgage application, which is why, as a ‘whole of market’ broker, we have the expertise to advise on and handle specialist lending applications. We know which lenders apply the ‘human touch’ to mortgage applications and take each borrower’s personal situation into account to identify the best products for them.
So, if you are struggling to secure a mortgage with your bank or other high street lender, speak to one of our experienced mortgage advisers to see if we can help. We are completely independent and have access to broker-only deals to help find the right solution for your needs.
We can also assist you with securing bridging and second charge loans through the specialist lending market.