Non-standard Mortgages

Before you apply for a mortgage consider your circumstances. Do you have bad credit? Are you self-employed? Do you have any cash for a deposit? If your circumstances are unusual you may have to apply through a specialist lender or broker. Many UK lenders now offer products specially catering for these areas.

Bad Credit
A bad credit mortgage is specifically designed for people with bad credit history. Your credit history is recorded by credit reference agencies, and if you have had trouble with finance in the past lenders may categorise you as having bad credit, or adverse credit as it is also known.

Self-certification
Self-certification mortgages are for self-employed people, company directors and people whose income largely comprises of bonuses or commission. If you cannot prove your income most mortgage lenders will allow you to self certify it.

100% mortgages
100% mortgages are for people who have no, or very little, deposit and wish to borrow more than 95% of the value of the property or in some cases more than 100% to cover the costs of furniture and other expenses. These are particularly useful for first time buyers.

Remortgage
A remortgage is for homeowners who wish to move their mortgage, not their home. This can be to release equity or just to save money by switching to a lower interest rate.

Debt consolidation
Debt consolidation means transferring all outstanding debts into one more easily manageably remortgage or secured loan with one interest rate.