Specialist Mortgages for unique situations

We take pride in being able to access and provide specialist mortgages designed for individuals with circumstances that some lenders categorise as ‘complex’.

Experts in catering for the unusual

When and why to consider a specialist mortgage

If your situation is different from the usual, you might need to be looking towards a specialist lender. Larger banks and high street building societies have strict criteria for mortgage applications which they do not typically provide discretion on. So, if you have bad credit, are self-employed, or have a complex situation, it can be tricky to get approved.

People who might need a specialist lender include:

  • Those with bad credit
  • Self-employed individuals
  • People with various income sources
  • Those looking at different types of purchases
  • Individuals with a single or lower income

Specialist Mortgage Types

If you have a unique or complex financial situation, you can rely on our referral partners. At MME, we collaborate with numerous specialist lenders capable of accommodating various scenarios. Explore our range of specialist mortgages—there’s one that could be perfect for you.

Large Loans

Securing a larger loan amount, typically over £1m can prove a complex task. Lenders traditional assessments of earnings will often fall short when working with more intricate situations including individuals with a large make up of bonus or commission income as well as restricted stock units (RSUs). The same can be said for company directors with varying income.

Through our many years of experience working with key lenders that cater to higher net worth clients, we are very proud to be able to operate in this area to provide customised solutions for those seeking larger loans with competitive and flexible terms.

Self-Employed Mortgages

Contrary to popular belief, self-employed mortgages are no different from traditional mortgages – the key distinction lies in how lenders assess your application and the proof they require. Being self-employed shouldn’t be a barrier to securing a mortgage. We understand the challenges faced by freelancers, contractors and business owners alike.

The key factors influencing mortgage approvals for Contractors & the Self Employed are:

  • Good Credit History demonstrates financial responsibility and reduces the lenders perceived risk of lending giving you the best chance of approval.
  • Track Record of Income is key to enhancing borrower eligibility and affordability. However, it should be noted that those with just one year in self employment may still have options available.
  • Deposit Size significantly impacts the available interest rate, the larger the deposit the more competitive your rate as a result of the loan-to-value impact.
  • Mortgage providers have unique criteria; rejection from one doesn’t mean others won’t consider your scenario but the key lies in knowing which lender to approach.
Expat Mortgages

If you’re living abroad, whether a UK national or not and want to invest in UK property, our expat mortgage services might be the right solution for you. Expat mortgages operate much like standard UK mortgages but with stricter lending criteria and deposit requirements, given that expats are typically seen as higher risk.

The options available to you depend on your specific circumstances. To get started, gather essential documents such as employment status, income details, and visa information. Then, reach out to our expat advisors to discuss your options.

Interest-Only Mortgages

Interest-only mortgages allow borrowers to make payments towards the loan’s interest for a specified period, preserving the principal balance without reducing it. The full outstanding balance is typically settled at the end of the mortgage term or upon property sale. Hybrid mortgage options, combining interest-only and repayment features, are available to strategically manage and decrease the principal balance over time. This approach is ideal for borrowers confident in leveraging assets or investments to efficiently manage their mortgage obligations.

Self-Build Mortgages

If you’re considering building your own home, a conventional mortgage may not be the most suitable option.

A self-build mortgage differs from a standard residential mortgage in that funds are released in stages as construction milestones are achieved, rather than as a lump sum upfront. Opting for a self-build mortgage offers potential benefits such as savings on stamp duty, potentially lower costs with careful planning, and an increased property value upon project completion.

Types of self-build mortgages:

Arrears: Payments after each build stage completion. Suitable for cash-rich projects.

Advance: Payments at each stage start, aiding cash flow. Ideal for projects with limited upfront funds, but fewer lenders offer it.

Bridging Finance

When you need a short-term loan and funding isn’t immediately or readily available, this option can bridge the gap between selling your property and securing a traditional mortgage on a new one or releasing capital from an existing property.

Bridging loans are particularly useful when:

Broken Property Chain
If your property chain breaks down, a bridging loan provides an alternative to secure financing and prevent the loss of your new home, usually with a fast turnaround.

Buying Property at Auction
A bridging loan offers a quick financing option to secure auction properties, speeding up the purchase process significantly.

Property Renovation
A bridging loan funds renovations, from minor upgrades to essential repairs making properties mortgage-ready

Buying Land
A bridging loan can quickly fund land purchases for residential or commercial development, bridging the gap until a mortgage is secured or the property is sold.

Development Finance

For property developers, securing finance for construction or refurbishment projects is crucial. Our development finance solutions offer tailored funding to support your project from start to finish, whether you plan to sell or rent the property once development is completed.

Adverse Credit Mortgages

A poor credit score could result in higher interest rates and, in some instances, a rejected mortgage application. However, some alternative lenders assess eligibility based on criteria such as your deposit size, income-to-mortgage ratio, and other credit management history. We partner with specialists in adverse credit mortgages, facilitating tailored solutions that align with your financial situation and enable you to progress with your property goals.

Secured Loans

A Secured Loan offers an alternative method to raise funds without extending your mortgage, which can be more advantageous in situations where your current lender cannot provide further borrowing.

MME acts as an introducer to a network of secured loan partners. Whether you need funds to replace your car, consolidate debts due to changed circumstances, or finance planned property renovations, we connect you with providers who offer tailored secured borrowing solutions. Secured loans use your property as collateral, typically allowing for larger borrowing amounts compared to unsecured loans.

Our referral partners ensures you access a wide range of secured loan options to suit individual needs, including flexible terms and competitive rates.

Please note: This service is exclusively offered through referral to a third party.

At MME Mortgages, we pride ourselves on offering personalised mortgage solutions that cater to your unique needs. Contact us today to learn more about our specialist mortgages and find the right financial product for you.

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