Trusted, experienced, expert
With over 4,500 5-star Trustpilot reviews, access to our huge panel of lenders, and great rates and relationships built over more than 25 years, people trust us to find specialist mortgages. And you can, too.
We love something a little different
Buying something with a steel frame? Love the look of a listed building? You may need a specialist lender. Whatever your ideal place looks like, we’ll work with our friends at Aria Finance to find you the right non-standard construction mortgage – at a great price.
Mortgages for homes connected to a commercial property
With access to thousands of products, we can find you a mortgage for a home connected to a commercial property. That might be a bed and breakfast or a flat above a shop. Wherever your new home is, we work closely with Aria Finance to find the right mortgage for the job.
Securing second charge mortgages
Need to borrow more? If your current lender says no, there is another way: use an additional lender to cover the extra. Our referral service will match you to the best specialist mortgages.
Finding bridging finance
Don’t want to lose out on a house, but you’ve not sold yours? Looking to get funding quickly, but the property isn’t standard? Our referral service helps you find the bridging finance you need to make it work.
A wiser way for landlords
There are many ways to organise the financing for your buy-to-let. It’s always best to speak to an expert to help you make sure it’s done right. Whether you’ve got property or are just hatching a plan, we can help.
What is a Specialist Mortgage?
A specialist mortgage is a type of home loan specifically designed for borrowers who do not meet the standard lending criteria set by mainstream lenders. Traditional mortgages generally require applicants to have a stable income, a strong credit history, and properties that fall within conventional guidelines. However, many people’s circumstances don’t fit neatly into this box, including self-employed individuals, those with past credit issues or those looking to buy unconventional properties, and buyers of non-standard properties.
Specialist mortgages offer greater flexibility. They allow lenders to assess your application based on a wider range of factors, such as your overall financial position, business viability, or unique property features, rather than relying solely on a traditional credit score or employment status. This tailored approach provides access to finance for borrowers who might otherwise be declined.
What Documents Do I Need for a Specialist Mortgage?
Applying for a specialist mortgage requires more extensive documentation than a standard mortgage application. This is because lenders want to ensure that they fully understand your financial situation. Whilst the exact documents you need to provide will depend on the type of specialist mortgage you require and your specific situation, you should be prepared to provide:
- Proof of Income. For employed applicants, this usually means payslips and P60s, but for self-employed borrowers, tax returns or accountant-prepared accounts are often needed. Lenders may also request SA302 forms, which are official HMRC documents summarising your tax calculations.
- Bank Statements. Both personal and business bank statements help lenders verify your income flow and spending patterns. These can demonstrate how money moves in and out of your accounts and confirm that your income is consistent.
- Details of Debts and Financial Commitments. Lenders want to know about any outstanding loans, credit cards, or other debts you may have in order to calculate your affordability accurately.
- Proof of Assets. Evidence of savings, investments, or other assets can strengthen your application by demonstrating additional financial security.
- Identification and Address Verification. Documents like a passport, driver’s license, and utility bills will be required to confirm your identity and address.
- Additional Documentation. Depending on your situation, you may need to provide proof of ongoing contracts, invoices, or letters from clients, especially if your income is irregular or your employment type is non-traditional.
Preparing these documents carefully and keeping them organised will help speed up the application process and improve your chances of approval. Mortgage Matters is here to guide you through exactly what you need and how to present it effectively to specialist lenders.
Types of Specialist Mortgages
Specialist mortgages are designed to cover a wide range of borrower needs and property types. Here are some of the most common options:
- Adverse Credit Mortgages. These mortgages are ideal for borrowers with less-than-perfect credit histories, including missed payments, defaults, and even bankruptcy. Whilst they usually have stricter terms and higher interest rates, they may help you rebuild your credit profile over time.
- Self-Employed Mortgages. Many self-employed individuals have variable income streams, making traditional mortgage applications challenging. Specialist lenders are more familiar with these situations and can take a flexible approach to income assessment, often accepting tax returns, accountant-prepared accounts, or future contracts as proof of earnings.
- Buy-to-Let Mortgages. Tailored for landlords looking to purchase rental properties, these mortgages often have different lending criteria related to rental income and property type.
- Unusual Property Mortgages. If you’re buying a property that doesn’t fit conventional lending criteria, such as a converted barn, a home with a short lease, or a property with non-standard construction, you may require a specialist mortgage.
- Limited Company Mortgages. Specialist lenders offer mortgage solutions for individuals purchasing property through a limited company, often for buy-to-let purposes. These lenders usually assess applications based on the company's financial health, expected rental income, and the director’s background.
- Interest-Only Specialist Mortgages. Suitable for borrowers who want lower monthly payments initially, with the capital repaid at the end of the term through a separate investment or sale.
Choosing the right specialist mortgage depends on your personal circumstances and property type. Mortgage Matters can help assess your situation and identify which specialist mortgage is best suited for you.
Specialist Mortgage Lenders
Specialist mortgage lenders provide home loans to borrowers who may be declined by mainstream banks. These lenders typically have more flexible criteria, enabling them to consider a broader range of factors when assessing risk. They understand the complexities of self-employment, adverse credit, and non-standard properties, ensuring they often look beyond just credit scores and standard proof of income.
Rather than relying solely on automated checks, many specialist lenders take a manual approach, reviewing each application individually. This allows them to gain a full understanding of your financial situation and make decisions based on this.
FAQs for Specialist Mortgages
Yes, specialist lenders are often willing to work with applicants who have adverse credit histories, such as missed payments, defaults, or even previous bankruptcy. Whilst the interest rates may be higher, these mortgages provide a valuable opportunity for those who might otherwise be unable to secure financing. Lenders will assess your current financial situation and ability to repay the loan, rather than focusing solely on past credit issues.
Generally, yes. Specialist mortgage applications require manual underwriting and more detailed financial information, which means the process can take longer than standard mortgage applications. However, working with experienced brokers like Mortgage Matters can help you prepare your documents correctly and communicate efficiently with lenders to minimise delays.
Yes, specialist mortgages generally require a larger deposit than mainstream loans. Often, deposits start at around 15% to 25% of the property’s value, although this can vary depending on the lender and your specific circumstances. As a larger deposit reduces the risk to the lender, it can improve both your chances of approval, and the mortgage terms offered.
Income proof depends on your employment status. Employed borrowers usually provide payslips and P60s, whilst self-employed applicants may need two to three years of tax returns and accountant-prepared accounts. Some lenders accept alternative proof, such as bank statements or contracts, especially if your income is irregular. Mortgage Matters will advise you on the best documentation to submit based on your situation.
Share the love, split £100
Tell a friend about Mortgage Matters, and you’ll both get £50 if they use us.*
You’re in safe hands.
Don't wing it when it comes to protecting your nest. Our 5-star Defaqto insurance products are trusted by thousands and give you complete peace of mind.
