Unusual Mortgages

Unusual Mortgages – Mortgage Report – Interest Rate Decision – May 2025

By Chris Morgan | Published: 8th May 2025

Bank of England Base Rate is currently 4.25% as 8th of May 2025

Have you been declined for a Mortgage and are now looking for a “Off High Street Mortgage”? By Chris Morgan, Lead Financial Adviser & Mortgage Commentator

No matter how much we talk about global trade tariffs, rising inflation and energy prices, the one thing that governs over the economy is interest rates. Mortgage Interest rates, along with utility bills like gas, electricity and council tax directly impact on the amount of money that consumers have in their pockets, along with their “confidence” levels.

How do interest rates affect mortgages?

The Bank of England Monetary Policy Committee meets on a regular basis and the nine members of their committee vote on whether there is to be any change in the Bank of England Base Rate. Currently after today’s announcement (8th May) that rate stands at 4.25%.

This rate is at the core of all the mortgage products offered by banks and mortgage lenders in the United Kingdom. We specialise in “off high street” mortgages and many of these products are linked in some way to the movement of this Bank of England Base Rate.

You can find out information about the dates of forthcoming interest rate decisions and the minutes of previous meetings.

https://www.bankofengland.co.uk/monetary-policy/upcoming-mpc-dates

The next interest rate decision is Thursday 19th of June at 12 noon.

“Off High Street Mortgages“

“Off High Street Mortgages” are where an applicant has been declined by a high street lender and may need specialist advice from a mortgage adviser that is used to looking after people and property where the circumstances may not be straight forward.

Here are some examples of where we have been able to assist people where they have “Unusual” circumstances when taking out a mortgage. The A-Z of Mortgage in the side bar of this website shows other areas in which we may be able to assist people with “Off High Street Mortgages”.

These are some of the areas in which we have strong relationships with lenders …

Splitting title deeds – This is where there are two or more properties on one set of title deeds, so for example recently we mortgaged a cottage, which had an annex apartment attached.
Split use (Residential) – This is where there may be two different types of property in the building, for example where there may be a private residency, with some buy to lets also in the same building.
Split use (Commercial) – Once again two different types of property in the same building, in this case we helped someone with a shop unit which was being used as a hairdressers, along with Buy to Let properties above.
Commercial use – Sometimes properties are deemed to be of commercial use, maybe where there are stables or land used for commercial purposes.
Expatriate Mortgages – British Expats generally get a rough deal when it comes to getting mortgages, but we do have lenders for people living abroad who may be looking to invest into property.
Development Finance – This is where you already own the land and have the planning permission agreed – but you need extra funding to build and complete the project.

These are some of the mortgage documents you will need when applying for an “Off High Street Mortgage”

Proof of Income (P60, Payslips, Self Employed Accounts)
Bank statements (Showing Income & Outgoings)
Proof of residency (Recent Utility Bills)
Proof of deposit (Bank Statement)
Proof of employment (Employment Contract)
Credit Report (Experian or Equifax Report)

A to Z of Mortgage Issues

If you would like to know more about the types of Mortgages that we arrange you can find a comprehensive “A-Z of Mortgage Issues” on the right side bar of this page. If you would like to know about a Mortgage that is not on the list, then be sure to contact us using the details at the bottom of this article.

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We will confirm if the decision you were given is correct and assess your options across all of the lenders on our manual research list, from which we tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not drop us a line at the email address below. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you require more information on Complex Mortgages, Commercial Mortgages, Expatriate Mortgages, Foreign Currency Mortgages, Large Value Mortgages. Marquee Property Mortgages, Multiple Mortgages, Split Use Mortgages, Split Title Mortgages, Portfolio Landlords you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Unusual Mortgages – Mortgage Report – Declined Mortgages – April 2025

By Chris Morgan | Published: 10th April 2025

Have you been declined for a mortgage because of Unusual circumstances? By Chris Morgan, Lead Financial Adviser & Mortgage Commentator

You have all the right documents, but still the application was declined? This can be so frustrating – especially if the property has the potential to be your dream home.

The lender asked for the following and you have everything they asked for – yet they still didn’t offer you the mortgage.

Proof of Income (P60, Payslips, Self Employed Accounts)
Bank statements (Showing Income & Outgoings)
Proof of residency (Recent Utility Bills)
Proof of deposit (Bank Statement)
Proof of employment (Employment Contract)
Credit Report (Experian or Equifax Report)

Sometimes the reason for a declined mortgage is not the status of the borrower, but is the property itself – we have met many applicants who meet the financial requirements of the mortgage lender – but there may be another reason that they are declined.

Here are some examples of where we have been able to assist people where they have “Unusual” circumstances when taking out a mortgage.

These are some of the areas in which we have strong relationships with lenders …

Splitting title deeds – This is where there are two or more properties on one set of title deeds, so for example recently we mortgaged a cottage, which had an annex apartment attached.
Split use (Residential) – This is where there may be two different types of property in the building, for example where there may be a private residency, with some buy to lets also in the same building.
Split use (Commercial) – Once again two different types of property in the same building, in this case we helped someone with a shop unit which was being used as a hairdressers, along with Buy to Let properties above.
Commercial use – Sometimes properties are deemed to be of commercial use, maybe where there are stables or land used for commercial purposes.
Expatriate Mortgages – British Expats generally get a rough deal when it comes to getting mortgages, but we do have lenders for people living abroad who may be looking to invest into property.
Development Finance – This is where you already own the land and have the planning permission agreed – but you need extra funding to build and complete the project.

Interest Rates

Current Bank Rate 4..5% as of 20th March 2025.

As interest rates ease we expect to see more activity and interest in the property market and in turn there are more people that are likely to be declined or turned down for mortgages. If you want to keep track of the Bank of England base, which effects mortgage rates then click here.

https://www.bankofengland.co.uk/monetary-policy/upcoming-mpc-dates

You can find out information about the dates of forthcoming interest rate decisions and the minutes of previous meetings. No matter how much you read in the press or media about inflation, trade tariffs, or taxation – the most important factor in your mortgage decisions will be interest rates.

The next interest rate decision is Thursday 8th of May at 12 noon.

A to Z of Mortgage Issues

15 Minute Mortgage Assessment

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

Unusual Mortgages – Mortgage Report – Summer 2024

By Chris Morgan | Published: 15th August 2024

By Chris Morgan, Lead Financial Adviser & Mortgage Commentator – (Self Employed Mortgages, Expat Mortgages & Split Title Deed Mortgages)

The recent change in interest rates gives hope to many home movers and buyers who over the last five years have had their plans scuppered or delayed.

With the worst economic conditions hopefully now behind us, we are likely to now see a gradual improvements in market activity – even though interest rates are still likely to remain moderately high for borrowers, we do expect mortgage activity to step up in Autumn 2024, leading into Spring 2025.

With the change of UK government now in place some of the uncertainty will begin to subside from the property market and people will once again start making plans.

These are some of the key areas we are currently advising clients, which you may find interesting and useful.

Self Employed Mortgages – 1 Years Accounts

With mortgage criteria remaining tight with the mainstream lenders, the self employed in particular may find themselves turned away by some high street lenders. This is especially so when they are in the early stages of starting a business and maybe have only a single years trading figures and accounts.

There are lenders out there who welcome self employed applicants with only one year’s accounts and we are always happy to hear from people who need our help in this situation.

Expatriate – Buy To Let Mortgages

It is extremely difficult for British citizens living abroad to get mortgages for buy to let properties in the UK at this moment – however we are able to assist Expat’s who are looking for Buy to Let Mortgages.

We have lenders that welcome Expat borrowers and we are always happy to hear from British Expats living abroad.

Split Title Deeds Mortgages

The third difficult area of lending, where we have specialist knowledge, is where a property may be either split into two, and is on one set of title deeds – or a property may be split into two as mixed use between commercial and residential.

Once again we have lenders interested in talking to borrowers who may have found their dream property and need an understanding lender.

A to Z of Mortgage Issues

15 Minute Mortgage Assessment

Product Transfer v’s Re Mortgages For Higher Rate Tax Payer

By Chris Morgan | Published: 2nd October 2023

Product Transfer v’s Re Mortgage For Higher Rate Tax Payer? By Chris Morgan

I’ve been advising Mortgage Clients for 30 years and these are the highest Mortgage Interest Rates the UK have seen for decade. Add to this the highest Fixed Rates and Highest Rental Income Reversion Rates – suddenly Higher Rate Tax Payers are having to make some really tough decisions when their fixed rates come to an end.

With Interest rates forecast by most leading commentators and economists to remain “moderately high” for some time, many Buy To Let Mortgage lenders are very much taking this opportunity to rebuild their balance sheets following last Octobers economic correction. In my opinion they will continue to do so. The problem for fixed rate mortgage holders is that their deals will come to an end and they will have to make a decision or face extremely high variable rates.

Buy To Let lenders will continue to charge inflated rates and product fees on their products for a while yet – so many Buy To Let borrowers are turning to mortgage brokers for advice. What was very much a business as “usual” mortgage situation in the past, has very much become an “Unusual Mortgage” situation.

So, what options do you have when your fixed rate comes to an end?

Stay on Standard Variable Rate

I’ve never seen Buy To Let Standard Variable Rates so high and it’s become so concerning that I’m returning to all of my Buy To Let clients to absolutely make sure they are aware of the situation and have diarised the exact moment they should be taking action, ahead of their products ending.

If you need advice from a Mortgage Adviser, do so early rather than late because in the next year there are especially high numbers of lower fixed rates coming to an end. The higher interest rates are going to make a huge difference to Buy To Let landlords throughout this next period of time.

Re Mortgage To Another Lender

There will be lots of re mortgage packages being offered by lenders with incentives such as free valuations and legal fees – the ones offering the best Fixed Rate products, are likely to charge a particularly large arrangement fee. One client we advised recently would have been charged £15,600 for moving her £560,000 loan, which of course we advised her against proceeding with.

We are currently running market comparisons for all of our existing Buy To Let clients, diarising their fixed rate products and creating strategies for managing their portfolios going forward. Simply the games has changed and we are protecting our clients interest’s, in what we believe will be a high to moderately high interest rate environment for several years to come.

Utilise Product Transfer

Within our research for clients we are also assessing the fairness and suitability of any products that their existing lenders are offering their mortgage holders. One of the big changes we have noticed recently is that some lenders are offering “bespoke” products to individual clients and have stopped publishing their existing customer rates on a more generalised basis.

We are providing advice for our clients in this situation and comparing what they have been offered with the general market. If you are concerned about any products you have been offered, or would like our help assessing if the deals you are being offered by your lender fair, then give us a call. We always have access to the latest research. data, commentary and relevant dates on this subject matter.

15 Minute Mortgage Assessment

Unusual Mortgages offer a free “Interest Rate” assessment over the phone for anyone that needs advice on their Fixed or Discounted Mortgage products that are ending. We will be able to assess your options and assist in developing a strategy for what is likely to be the new world for interest rates in the foreseeable future- especially for our Buy To Let clients.

If you require more information on Buy To Let Mortgages, Complex Mortgages, Commercial Mortgages, Expatriate Mortgages, Foreign Currency Mortgages, Large Value Mortgages. Marquee Property Mortgages, Multiple Mortgages, Product Transfers, Re Mortgages, Split Use Mortgages, Split Title Mortgages, Portfolio Landlords you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

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Expat Buy To Let Mortgages – Buy To Let For Expatriates – August 2023

By Chris Morgan | Published: 23rd August 2023

Mortgages Can Be Difficult to find for British Expats? By Chris Morgan

Have you found the perfect property only to find out that the obvious high street mortgage lenders, will not offer you a mortgage on what appears to be suitable security offered to them?

Even though you have a significant deposit money and solid income affordability, they have decided for what appears to be an insignificant reason to decline your mortgage application?

It can be soul destroying exercise searching for the right property, only to find out that because you’re an Expat British Citizen living abroad, you are no longer able to obtain a Mortgage in the UK.

Here are some examples of the types of situations that it may be difficult to find mortgage finance for …

British Expats with existing Buy To Let properties still in the UK, who may wish to re-mortgage for refurbishing their properties.
British Expats with existing Investment properties still in the UK, who may wish to re-mortgage their Buy To Let to find further property purchase.
British Expats who currently live abroad and may still wish to invest into Buy to Let property in the UK.
British Expats who wish to buy a residential property on their return to the UK and have no current residential history.
British Expats who wish to buy a residential property on their return to the UK and have a broken history of employment.

Most UK mainstream lenders refuse Buy To let mortgages, solely based upon a persons British Expat residential status.

However, you should not give up easily and contact the countries leading specialist adviser for finding mortgages for British Expats both currently living abroad and those looking to return to the UK.

15 Minute Mortgage Assessment

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to Let, Self Employed or Adverse Credit Mortgages you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

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Unusual Mortgages – Latest Mortgage Market Report – Summer 2023

By Chris Morgan | Published: 23rd August 2023

Expatriate, Foreign Currency , Split Title & Split Use Mortgages By Chris Morgan, Lead Financial Adviser & Mortgage Commentator

Unusual Mortgages are the UK’s leading Specialist mortgage adviser for applicants looking to find Mortgages for properties and applicants in Unusual circumstances.

Here are some of the leading areas that we have arranged mortgages for clients …

We have access to Niche Lenders and Private Banks that may take a different view of your dream residential or ideal but to let property. The Unusual circumstances listed below you may have difficulty attracting mortgage finance, through mainstream mortgage advisers – however we do have product solutions for all of these situations.

Expat mortgages. Foreign Currency Mortgages, Large Value Mortgages, Split Properties / Title Deeds, Flats Above Commercial Premises and Commercial Mortgages are all difficult to obtain at this moment in time. All of our lenders will require proof of your employed or self employed income, please have this ready when contacting us for advice.

But we do have mortgage lenders and product solutions for all of these product areas.

Expatriate Mortgages

We recently agreed a “Let To Buy” double mortgage for a client resident in the USA, who already owns property in London. His salary was in US Dollars, so the sanctioning of the Mortgages needed to take into account currency fluctuations between US Dollar and UK Sterling. Total Amount of Mortgage we successfully agreed was £730,000.

Foreign Currency Mortgages

We recently agreed a “Buy To Let” Mortgage for a First Time Buyer for a client resident in the USA, who’s salary was in US Dollars and Swiss Francs. He was able to purchase a house in Islington, London. Total Amount of Mortgage we successfully agreed was £800,000.

Large Value Mortgages

We have recently agreed a Large Value Mortgage for a first time buyer client, who wanted to buy a property in Clifton, Bristol for a purchase price of £1,000,000. The property was split use both residential and buy to let, with planning permission to convert outside stables into an annex. Total Amount of Mortgage we successfully agreed was £800,000.

Split Properties / Title Deeds

Another mortgage we have recently completed was for a first time buyer, who had found their “Marquee Country Home”. However the property consisted of a main residence alongside an annex residence – within only one set of title deeds, which can be extremely difficult to mortgage. Total Amount of Mortgage we successfully agreed was £480,000.

Flats Above Commercial Premises

We are currently arranging a mortgage on a “Marquee Apartment” in a Mansion block in Earls Court London, which has a commercial element to the building on the ground floor. Even though the property is of high value and quality, many lenders will restrict the amount borrowing on these properties, or decline them, completely. Total Amount of Mortgage we successfully agreed was £720,000

Commercial Mortgages

We recently introduced a business client to a “Commercial Mortgage” lender, as he wanted to re-mortgage his property that consisted of two buy to let flats, located above a retail unit. High Street lenders were not able to assist due to the complicated nature of the security. Total Amount of Mortgage we successfully agreed was £500.000

Unusual Mortgages

Even through these most difficult economic times, we have been finding mortgages for significant amounts of money for people in Unusual circumstances. All of these applicants were mainly having issues attracting finance through their residential status (Expats), Income Situation (Foreign Currency) or Property Security Issues (Marquee Properties).

A to Z of Mortgage Issues

15 Minute Mortgage Assessment

If you require more information on Complex Mortgages, Commercial Mortgages, Expatriate Mortgages, Foreign Currency Mortgages, Large Value Mortgages. Marquee Property Mortgages, Multiple Mortgages, Split Use Mortgages, Split Title Mortgages, Portfolio Landlords you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Special Feature – End of Mortgage Term – Mortgage Term Ending !

By Chris Morgan | Published: 10th December 2020

By Chris Morgan, Lead Financial Adviser & Mortgage Commentator,

The most controversial and relevant mortgage issue coming over this next five years will almost definitely be “Mortgage Term Ending.” Interest Only Mortgages are ending for literally thousands of people, who took out their mortgages over 20 and 25 years, before the last credit crunch back in 2008.

Many of these mortgage holders applied for their mortgages with very little in the way of proof of income, through what was known as “Self Certified” Mortgages. Lenders were offering Mortgages without checking a persons income, which for many now means they are finding it difficult to secure an “Exit Route” to hold onto their Buy To Let properties or Residential Home.

Buy To Let – Mortgage Term Ending

Fast forward 20 years and mortgages are now coming to an end, with many of mortgage holders being left without any suitable ongoing “Exit Route”. Buy To Let Landlords whose portfolio’s make up a major part of their “Later Life Planning” are finding it difficult to re-mortgage and keep the properties they were relying on for their retirement income.

Customers who were formally with Bradford & Bingley and Mortgage Express are already likely to be receiving letters from administrator companies like Rosinca Mortgages and Siberite Mortgages containing final dates for their Mortgages to repaid in full. These are normally sent at 12 months, 6 months and 1 month intervals, before the lender then begins the foreclosure process – meaning a forced sale of the property.

Residential – End of Mortgage Term

Many high street banks like Halifax also have residential mortgage customers who also now have their Mortgage Terms Ending and, with the economy the way it is currently, most lenders are in the mode of reclaiming capital and rebuilding their businesses through the recession.

Simply they want their money back and we are seeing little appetite for “later life lending clients” being offered compromises and extensions to their current mortgages. Therefore they need to find alternative exit routes and solutions as quickly as possible. It is essential, that if you find yourself in this situation, you get professional advice as soon as possible from an adviser who holds the higher “Later Life Lending” qualifications.

Countdown Letters – Don’t Wait Until Its Too Late!

If you have received a letter from your bank about your Mortgage Term Ending, then please do not ignore this letter. Most send out letters at 12 months, 6 Months and then 1 month before the end of the mortgages. Here’s a list of current and previous mortgage lenders who are on our monitoring list who send out “Countdown Letters”.

Bradford & Bingley, Cerburus Mortgages, Citi Mortgage, GMAC Residential Funding, Halifax Mortgages, Heliodor Mortgages, Intelligent Finance, Jasper Mortgages, Landmark Mortgages, Mortgage Express, Northern Rock, Roselite Mortgages, Rosinca Mortgages, Seberite Mortgages, Topaz, UCB Home Loans, UK Asset Resolution. Whilstree, Trustee Savings Bank TSB.

Don’t wait until its too late, pick up the phone and take control of your situation and find out what options you do still have. We are particularly able to assist those with Buy To Let Mortgages ending and those nearing retirement who are considering their Mortgage options.

15 Minute Mortgage Assessment

Unusual Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. We are particularly strong in the areas of Mortgage Term Ending, End of Mortgage Term, Later Life Lending and Buy To Let Mortgages.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated why not give us a call. Within 15 minutes you will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Unusual Mortgages”.

If you would like to know more about the types of Mortgages that we arrange you can find a comprehensive “A-Z of Mortgage Issues” on the right side bar of this page. You can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Unusual Mortgages – Latest Mortgage Market Report – Autumn 2020

By Chris Morgan | Published: 13th October 2020

By Chris Morgan, Lead Financial Adviser & Mortgage Commentator

Unusual Mortgages are the UK’s leading Specialist mortgage adviser for applicants looking to utilise their equity in their properties as security. We look after both individuals who may be looking to buy further property and Buy To Let investors who may be looking to grow their portfolios.

Many of the applicants we meet are unable to meet all of the Income Evidence requirements or strict criteria of high street lenders, due to their restrictive lending rules around Multiple Mortgages and Portfolio Buy To Let Mortgages.

These are some of the key areas in which we are able to offer advice. We have strong relationships with many off high street lenders, such as private banks, niche lenders and complex mortgage providers. Many offer broker exclusive products, that are tailored to our clients needs.

Criteria & Product Restrictions

End of Mortgage Term Approaching – Bradford & Bingley, Citi Mortgage, Heliodor, GMAC Residential Funding, Intelligent Finance, Jasper Mortgages, Landmark Mortgages, Mortgage Express, Northern Rock, Roselite Mortgages, Rosinca Mortgages, Seberite Mortgages, Topaz Mortgages, UCB Home Loans, UK Asset Resolution. Whilstree (TSB) are all mortgage company names that may be familiar to those who were granted their mortgage without proof of income in the past and are now finding their lender is unprepared to extend the mortgage term.
Multiple Mortgages – Some lenders are unfriendly towards Let To Buy and Buy To Let borrowers currently, as they are restricting the outlay of their capitalisation for those with more than one mortgage.
Portfolio Landlords – All Buy To Let portfolio lenders now have additional rental / stress test calculations to meet, which can be a major obstructive issue, especially for higher rate tax payers.
British Expat Clients – Those living abroad face problems currently raising Buy To Let finance, as this is a highly specialised area of mortgage lending and considered a higher risk for lenders.
Capital Raising Purpose – Lenders have become a lot more sensitive around the declared purpose of any equity being released from both residential and Buy To Let properties, as they are guarding and protecting their capitalisation.
Properties Turned Down by High Street Lenders – Flats above commercial premises, properties with two kitchens or more, properties with a percentage split of commercial or agricultural use, properties with two living units combined on one set of title deeds.(Annex and Main Home), properties which are used to host Airbnb in some way.

Income & Tax Related Restrictions

Utilising Property Income – Some lenders do not take property income into account when calculating mortgageable income on SA302’s, as they prefer not to lend to property professionals. Also lenders are still to catch up on Airbnb as property income.
Utilising Other Income – SA302’s can be interpreted in many ways by lenders, when calculating mortgageable income in particular the use of the Other Income section.
Minimum Proof of Income – First Years Trading as self employed is a difficult time to get a mortgage, as the amount of financial evidence accumulated is minimal in relation to lender criteria.
Missing Proof of Income – Missing SA302’s or accounts is a major issue as vast majority of mortgage lenders require income evidence. We can advise you how to utilise the proof of income that you do have and to avoid the strictest lenders.
Impact of Tax Status – Higher & Lower Rate Taxpayers are treated differently for Buy to Let and Portfolio lending, with Higher Rate Tax payers coming off particularly poorly in regards to rental income calculations currently.
Stress Testing Portfolio’s – Individual & Portfolio applicants are treated differently by mortgage lenders, with those with four properties or more treated differently, to those with three properties or less. Either way lenders have made it more difficult for existing landlords to borrow money.

If you would like to know more about the types of Mortgages that we arrange you can find a comprehensive “A-Z of Mortgage Issues” on the right side bar of this page. If you would like to know about a Mortgage that is not on the list then be sure to contact us using the details at the bottom of this article.

15 Minute Mortgage Assessment

If you require more information on Complex Mortgages, Multiple Mortgages, Buy to let, Portfolio Landlords, Self Employed or Adverse Credit Mortgages you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Unusual Letting Mortgages – Let To Buy Mortgages …

By Chris Morgan | Published: 7th October 2019

Let to Buy Mortgages can be complex and difficult to obtain By Chris Morgan …

There could be many reasons that you could decide to let your existing property and move into to a different one. Both before and during the last recession it became very popular for a person to leverage their current home and then move into a different one.

For some this was an absolute necessity to keep a larger home in London, so they therefore considered downsizing and reducing their outgoings. For others who simply did not wish to sell their property in a difficult market, Let to Buy became a good way to keep ownership of their home.

Let To Buy mortgages effectively are reliant on two mortgage loans being agreed at the same time, in majority of cases by different lenders. One loan to release capital from the current property (Letting Mortgage) and a second to buy an ongoing property (Residential Mortgage).

It’s not a surprise that these types of deals have become difficult to complete, as many of the major lending groups are once again restricting their lending policies ahead of Brexit.

However, there are still some very good lenders willing consider “Let to Buy” situations where the financial number and circumstances make sense.

Here’s some advice for those looking to “Let and Buy” …

If you have been turned down on this type of deal already, then don’t automatically think the issues lie with you, as it is quite possible that the lenders policy has changed or is restricted.
Some lenders simply do not have sufficient funds to lend “Multiple Finance” deals at the moment and will turn them down before even accepting an application from a borrower.
Any onward residential purchase will need to be simultaneous for any lender to agree a Let to Buy Mortgage. This is not normally negotiable.
In any economic financial cycle there are weaker mortgage providers that restrict lending and there are stronger ones that are in a better position to lend – it’s just a matter of knowing who to approach, their detailed criteria and how to present the situation.
Let to Buy Mortgages are complex, so seek Independent Financial Advice and your dream home move or downsizing may still be possible – presentation is everything.

15 Minute Mortgage Assessment

If you require more information on Complex Mortgages, Multiples Mortgages, Buy to let, Self Employed or Adverse Credit Mortgages you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

Unusual Employment – Is Your Employment Status Effecting Your Mortgage Ability?

By Chris Morgan | Published: 27th May 2019

Mortgages can be difficult to obtain for Fixed Term Contract and Temporary Agency Workers? By Chris Morgan

Have you found the perfect property only to find out that the obvious high street mortgage lenders, will not offer you a mortgage on what appears to be suitable security offered to them?

Even though you have a significant deposit money and solid income affordability, they have decided for what appears to be an insignificant reason to decline your mortgage application?

It can be soul destroying exercise searching for the right property, only to find out that because you work on Fixed Term Contract or on a temporary agency contract they would decline your application.

Here are some examples of the types of situations that it may be difficult to find mortgage finance for …

Mortgage applicants who work on rolling fixed term contracts.
Mortgage applicants who work on temporary contracts through an agency.
Mortgage applicants who have switched their employment status from self-employed to employed recently and may be within a probationary period.
Mortgage applicants who have switched their employment status from employed to self employed. (Subject to minimum 12 months self-employed)
Self Employed Mortgage applicants with only 12 months trading figures and accounts.

We have seen many examples where high street mortgage lenders such as Halifax, Santander and Woolwich have refused clients mortgages, based on the employment scenario’s above.

However, you should not give up easily and contact the countries leading specialist adviser for finding mortgages for those in Unusual Employment situations like fixed term, agency and probationary contracts.

15 Minute Mortgage Assessment

Complex Mortgage Advice Service

Unusual Mortgages – Mortgage Report – Interest Rate Decision – May 2025

Unusual Mortgages – Mortgage Report – Declined Mortgages – April 2025

Unusual Mortgages – Mortgage Report – Summer 2024

Product Transfer v’s Re Mortgages For Higher Rate Tax Payer

Expat Buy To Let Mortgages – Buy To Let For Expatriates – August 2023

Unusual Mortgages – Latest Mortgage Market Report – Summer 2023

Special Feature – End of Mortgage Term – Mortgage Term Ending !

Unusual Mortgages – Latest Mortgage Market Report – Autumn 2020

Unusual Letting Mortgages – Let To Buy Mortgages …

Unusual Employment – Is Your Employment Status Effecting Your Mortgage Ability?

COMPLEX MORTGAGE SERVICE

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