Specialist
Mortgages
Vincent Burch Mortgage Services is on hand to support you with your specialist mortgage journey.
Search Specialist MortgagesWhat is a specialist mortgage?
Lending is typically separated into high-street mortgages or specialist mortgages. Specialist lending typically means receiving a mortgage loan from a lender who isn’t a high street bank or building society due to their unique requirements or circumstances that don’t fit high street lenders typical requirements.
How do specialist mortgages differ from banks and building societies?
High-street lenders (such as your regular bank or building society) have less flexible requirements that applicants must adhere to. Specialist lenders take each case as it comes, and may be able to accept more applicants in comparison to high-street lenders.
Are specialist mortgages the same as subprime?
Subprime mortgages refer to mortgage deals which would typically fall under ‘bad credit’ or ‘poor credit’ mortgages, known as subprime because the deals are not as impressive or favourable as an optimal or ‘prime’ mortgage.
Specialist mortgages are not the same as the subprime mortgages which caused the 2008 financial crisis. These days, lenders are more tightly regulated and require a lot of information from you about your financial situation, and you can’t self-certify your own income.
Search specialist mortgages from 100s of lenders
At Vincent Burch Mortgage Services, we understand finance. With over 200 years of combined specialist experience, we’re confident we can help with whatever you’re looking for. As an independent broker, we can compare mortgages from a wide range of lenders across the whole market to find you a specialist finance quote, quickly and easily.
Who are specialist mortgages designed for?
Specialist mortgages are a way to still purchase a Buy To Let or commercial property, even if they may not meet the criteria for a traditional mortgage. This includes people with adverse credit, people who are self-employed, or anyone looking to finance non-standard properties. Specialist lenders may also be able to support with mortgages for:
- Renting properties
- Property investors based overseas, who wish to buy a property in the UK
- Using a guarantor
- Council property tenants, who wish to buy their home through the right to buy scheme
- Buying a property differently, such as joint borrowing
Specialist lenders will work closely with an individual, to assess their unique situation and risk level. This means finding a balance of loan terms and interest rates that both parties (lender and borrower) can feel confident and comfortable with. This personalised approach however may result in longer processing times.
Specialist mortgages take into consideration that not everyone is eligible for a traditional Buy To Let mortgage, and are designed specifically for those who wouldn’t be able to successfully find a mortgage through traditional means.
Why would you need a specialist mortgage?
Sometimes, people have unique circumstances and traditional commercial and Buy To Let mortgages don’t accommodate. These circumstances may include, but are not limited to:
- Credit History: Having an adverse credit history or a complex income portfolio
- Employment: Self employment, contract work, or gig economy worker
- Property Type: You are looking to rent out a property, or finance a non-standard property
- Purchase Status: You’re considering buying a property differently, such as through joint borrowing or with a guarantor
Specialist lenders take all of these into consideration when assessing you as a borrower. They also may offer more flexible lending criteria, or bespoke mortgage deals which you won’t find with a traditional mortgage provider. Specialist lenders assess their applications typically on a case-by-case basis.
To find the right specialist lender, we recommend you get in touch with us at Vincent Burch Mortgage Services, a specialist mortgage broker, as we can help you with your application and assess your needs. We’ll support you with finding a suitable deal.
Why Choose Vincent Burch As Your Specialist Mortgage Broker
We treat every customer as an individual and you’ll get the personal attention, advice and support you deserve from one of our specialist advisers from start to finish. We understand the importance of getting your application right the first time and we’ll work with you every step of the way to make it happen.
Receive a Specialist Mortgage Quote
Specialist Mortgage Advice Tailored To You
Enter your contact details and we will be in touch, typically within 10 minutes (during normal business hours).