What is a specialist mortgage lender?

When looking for property-related loans, you may have heard about specialist mortgage lenders.

Most buyers looking for a mortgage would go to a high-street bank or building society, but these providers typically have a long list of inflexible requirements that applicants need to meet.

Specialist lending operates beyond these rigid frameworks to offer alternative financing solutions for borrowers who might not be able to find what they’re looking for with high-street lenders.

While you won’t find them on comparison websites, as their offering is more niche, specialist mortgage lenders are often recommended by advisers or brokers for those who don’t fit the criteria of traditional mortgages or are looking for something specific.

Who would need a specialist mortgage?

There are many reasons why would-be borrowers may not meet the requirements of mainstream lenders, but the purpose of the specialist lending sector is to widen the market for borrowers with varying circumstances.

That’s why specialist lenders work with a wide range of clients to find ways to offer the best possible mortgage or loan for those with less conventional situations, such as:

Self-employment (e.g. freelancers, contractors, company owners or directors)
Multiple income streams (e.g. commissions, zero-hour or part-time contracts, state benefits)
Different purchase methods (e.g. joint borrowing, guarantor mortgages, government schemes)
Poor credit history (e.g. arrears, bankruptcy, county court judgments)

Many applicants may find that if they go to a high-street lender, they either have to settle for a loan that doesn’t meet their own requirements, or face rejection for not meeting the lender’s standards.

This doesn’t just apply to individual homebuyers, either, but also to cases such as self-builders, landlords, or property developers searching for tailored bridging loans or buy-to-let mortgages.

Why choose a specialist mortgage lender?

While traditional lenders may use an automated system that requires a straightforward set of answers to approve an application, specialist lenders will evaluate each application on a case-by-case basis, often consulting with the applicant to reach a bespoke resolution.

Specialist mortgage lenders will go through all the paperwork, liaise with relevant parties, and do their utmost to achieve a mortgage or loan agreement that reflects the terms the applicant is looking for and their repayment affordability.

Though specialists provide alternative finance, they are regulated by the same financial authorities and follow the same rules as high-street banks, so you can be confident that you’ll receive a completely reliable service.

Here at Architects Certificate, we are qualified to provide a range of financial services, including facilitating specialist mortgages. As leading independent suppliers of building warranties and Professional Consultants’ Certificates, we’re always happy to combine services as needed.

That means if you need to include building warranty or PCC costs in your lending value, we can work with your lender to establish a specialist mortgage that meets your needs.

To find out more about this option and the possibility of discounted fees, contact us by calling 0161 928 8804 or emailing info@architectscertificate.co.uk to discuss specialist lending with our team.