The residential lending market is split into 2 lending types, those who lend on rate and those who lend on criteria.
A client without any complex residential needs, will be able to secure very low high street rates and may even just go directly to their own bank to arrange the mortgage.
Advisers who take time to understand the complex market however, can assist those clients who are rejected by the high street lenders.
Some of the areas that we see regularly which are best placed with a specialist lender include:
- Self employed applicants with only 1 years trading or accounts
- Adverse credit problems
- Contract workers and zero hours workers
- Non-UK Residents
- Older applicants needing a mortgage into retirement
- Applicants needing assistance with income or deposit from family
Connect can help you narrow down which of the lenders will consider an applicant with these circumstances. The client may also be looking at purchasing a property with complexities such as an ex-local authority property, a flat above a commercial premise, or a listed building with land.
We also have lenders that will consider mixed use property, such as a residential house with an annex that is let, or an outbuilding used for commercial purposes.
Are on of your clients a Complex Residential case?
Give us a brief outline of your client enquiry and we will come back to you quickly to let you know how we can help. If you would like to speak to us immediately, call us on 01708 676 123.