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Just because you’ve been declined by your bank because of your specialist mortgage situation, doesn’t, mean that you should give up on trying to get a mortgage!
With the help of a specialist Mortgage Broker in Nottingham, you may be able to secure that mortgage deal that you’ve always been looking for. Our team of mortgage advisors in Nottingham have access to 1000s of specialist mortgage products – they will try and pick out the perfect one for you.
We’ve helped many customers overcome specialist situations, here are just to name a few:
– Do you have a bad credit history?
– Have you got a CCJ (county court judgement) associated to your name?
– Are you trying to remove your name or another person name from a mortgage?
– Do you have a low credit score and need help improving it?
We have been faced with many different types of specialist situations; the scenarios listed above are just a few of the most popular.
Our team will try their best to get over your mortgage hurdle. Remember, your situation is never too complicated – one of our advisors would love to try and help!
When a customer approaches us for help getting a mortgage in a specialist situation, we will always try our best to help them. Our Mortgage Advisors in Nottingham have over 20 years of experience, most of the time we are able to help our clients overcome these hurdles.
Here is a deeper look into the specialist scenarios that we come across:
So, you’ve had your offer accepted on a property but a property survey has been performed on it and it turns out that you are going to be paying/borrowing more than the true property’s value. When this happens, lenders will likely pull out of the deal or offer you a mortgage that matches the value of the home. This is called a down valuation and it can sometimes get complicated, especially if this is your first mortgage journey.
It’s never planned and always devastating when it happens, however, when going through a divorce or separation with a shared mortgage, it’s crucial that you sort things sooner rather than later.
Linking to the last point, if you’ve been through a divorce or separation, you may need to get your name or another person’s name removed from a mortgage. Depending on both party’s personal and financial situations, it may be best that one person stays within the property over the other.
If you’re married but are planning to take out a mortgage in only your name, you’ll need to provide evidence that you can afford the costs of a mortgage by yourself.
Shared ownership mortgages let you buy a percentage of a property and pay the rest back on rent. The shared ownership scheme is great for people who don’t currently want full ownership over a property but may want to in the future.
Professional mortgages are only available to certain professions. The market for this type of mortgage is quite niche, contact us if you want more information.
If you are looking to get a second mortgage for a particular reason, such as a buy to let, you will need to prove that you can afford two sets of mortgage payments. You’ll also need to put down a larger deposit for things like a buy to let. People sometimes take equity out of their current property to cover the deposit on their second mortgage.
Are you planning to purchase a holiday home to either live in or let it out? If so, we can help you get the process started.
New build’s often come with higher sale prices. If you don’t have the funds in place to put down a deposit on a new build, you can always try and apply for the Help to Buy Equity Loan scheme.
A ‘non-standard’ property is basically anything that isn’t built out of brick and mortar. You may need to try and obtain a specialist mortgage product if you’re planning to buy a non-standard construction property. We also recommend getting a full structural property survey if you’re buying a property like this.
These types of mortgages are usually taken out by landlords for a buy to let/house of multiple ownership. This mortgage type is very complex and we would recommend speaking to a buy to let mortgage advisor in Nottingham.
If you want to release equity from your home in the form of a lifetime mortgage, we would recommend seeking specialist help. Releasing equity through a lifetime mortgage has both positives and negatives.
Offset mortgages allow you to link your savings to your mortgage. Taking one out could potentially help you access a better interest rate and competitive product.
– We’re open and honest with our customers. We will only recommend you a mortgage product that benefits your personal and financial situation.
– We offer a free mortgage consultation to every customer, no matter your mortgage situation. Specialist or not, we will always try and help you through your mortgage journey.
– We been working within the mortgage industry for over 20 years, we know exactly what we are looking for. Every one of our mortgage advisors in Nottingham are experienced with all different kinds of mortgage situations – they would love to try and help you!
– We have access to 1000s of mortgage products. This is the difference between a lender and a mortgage broker in Nottingham, we can search specialist deals and try and find one perfect for you.
– We will hold your hand through the whole mortgage process, keeping you informed on the status of your application throughout the whole journey.
– Our team are available 7 days a week! Contact us for your free consultation at a time that best suits you.
For Mortgage Advice in Nottingham, get in touch with our team and we will see how we can help!
4.95 Rating284 Reviews
Christopher
Charlie has been the ideal advisor in the months we've worked together. Knowledgeable, honest, personable and consistently happy to help. He and his team have made my experience as a first-time buyer a LOT less confusing!
Anna
Would and will be recommending this company. They (Conner) provided an extremely professional and efficient service in switching over our mortgage to a better interest rate. Always very contactable which quite frankly is something in this day and...
Alexander
Great service. Best value. We spoke to 3 brokers. Money man had the best deals so went with them. Service was fantastic. The mortgage we wanted was being pulled on the day so Paula went out of her way to ensure they had everything to send our...
Jan
first time I’ve used U.K. money man and I would like to say big thank you to Chris and Stacey who were helping us with our mortgage and made whole process smooth and easy for us from beginning to the end.Thank you 🙏
Jonathan
Very helpful and informative. Kept us in the loop and followed up with emails. Thank you!
Baljinder
Conor was excellent and efficient through the process and always helpful. Would highly recommend Moneyman.
Rosalind
Paula and Dan worked on our remortgage and we cannot recommend them highly enough. Dan initially handled the case and was very thorough, efficient and found us a great deal. We needed to remortgage around the time of Kwarteng’s mini budget so it...
Amy
Daniel was my mortgage advisor and he was excellent, friendly, efficient and honest in what was available to me in the current climate. Will continue to use Nottingham Moneyman for my remortgages.
Molly
Really happy with the care and support we received throughout our mortgage application! Communication was easy & response time was fast - thank you!
Emily
Leo and Jo were really great in getting us a mortgage. We’re both first time buyers and really didn’t understand the process, Leo made it very easy. He answered my calls every time without fail and held my hand through the process. Jo was...
Saira
Matt Collinson and Lyndsey Smith have been exemplary. The entire service has been exceptional. Matt is unbelievably helpful and knowledgeable. The team communicate efficiently and regularly. They are patient with queries and concerns. Hugely...
Anne
We are really pleased with the advice and support we received from Matt Collinson at UK moneyman. From start to finish he was very friendly, honest, knowledgeable and very contactable throughout. When faced with a bit of a turbulent market he...
Shaun
Understood the issues, and explained the various options making it easy to decide. All done promptly too. Perfect.
Akbar
Excellent, helpful and friendly service. I have recommended to various others already.
Shawn
Excellent service helped me from start to finish with buying my property with great advice and communication throughout thanks Malcom and the team
Anonymous
Very helpful throughout the process of securing a mortgage. Happy to talk through different options and offered explanations when requested
Jacqueline
Matt Collinson and Chloe dealt with our mortgage application. Excellent service. Working late and weekends when time is of the essence.
Andrew
Fantastic service by Charlie and Lyndsey, very knowledgable and professional and helped my wife and I secure a great mortgage deal. We will definitely be using their services again in the future and I would highly recommend!
Grace
Dinah Harros and Anna Braithwaite were outstanding! No question was too silly, really informative and easy to get a hold of - thank you both so much for helping us get life insurance and a mortage for our first home.
Sean
Brilliant service, Ryan and Lyndsey have been fantastic and couldn’t do enough for us and always in touch. Finally we have our dream home! Thank you so much Lauren & Sean x
Our dedicated mortgage advisors in Nottingham will provide you with a free mortgage appointment that typically lasts around 30 mins.
During this appointment, we will gather information about your financial and personal situation.
Based on the information obtained during the consultation, your mortgage advisor in Nottingham will then search for the ideal mortgage deal tailored to your specific needs.
If you are satisfied with the mortgage offer presented by your mortgage advisor in Nottingham, the next step is to proceed with your mortgage application.
Our mortgage process is composed of several stages. Firstly, we will ask you to complete our Fact Find to provide us with a clear understanding of your mortgage needs and goals.
Next, you will have a free appointment with a mortgage advisor in Nottingham, who will begin searching for mortgage options that are tailored to your individual circumstances. If we find a suitable offer that meets your requirements, we can proceed with your mortgage application.
To obtain an agreement in principle, we will conduct a credit check on you and gather supporting documents to validate your mortgage application.
Once we have submitted your mortgage application, we will wait for a formal mortgage offer to be issued.
We highly recommend obtaining an agreement in principle before you start viewing properties if you’re planning to apply for a mortgage.
This is because an agreement in principle is usually required to make an offer on a property, and it can also help you negotiate prices.
As a mortgage broker in Nottingham, we can help you to obtain an agreement in principle from a mortgage lender, which demonstrates their willingness to grant you a mortgage based on your financial circumstances.
With an agreement in principle in place, you can have a better idea of what properties you can afford and approach the buying process with more confidence.
The validity period of an agreement in principle (AIP) typically ranges from 30 to 90 days, but this may vary depending on the specific mortgage lender.
In case your AIP expires before you find a suitable property, you can easily renew it by contacting your mortgage advisor in Nottingham or the mortgage lender.
As a mortgage broker in Nottingham, we often see customers seeking a second mortgage for various reasons. Some of the most common reasons include:
– Consolidating debt.
– Making home improvements.
– Investing in a buy to let property.
– Other reasons, such as purchasing a holiday home or helping a family member with a mortgage.
When applying for a mortgage in Nottingham with a high street lender, a minimum deposit of 5% is typically required. If you have a history of bad credit, this percentage may increase.
Obtaining a mortgage may be a bit more challenging if you have a history of bad credit, but it’s not impossible!
In such cases, some mortgage lenders may require a slightly larger deposit from you, typically around 10-15%.
Whilst this is the case, there may still be many options available to you, and as an experienced mortgage broker in Nottingham, we can help you find a mortgage lender that is willing to work with your situation.
Submitting at least one year’s worth of accounts increases your chances of getting approved for a mortgage.
The mortgage lenders we work with typically consider your salary plus dividend to determine the maximum mortgage amount.
Some lenders may base their calculations on your net profit. The criteria varies from lender to lender.
– Photo ID (Driving license, Passport, etc.).
– Proof of Address (Utility bills, tax bills, credit card statements, etc.).
– Latest 3 months’ payslips & Latest P60 (employed applicants)
– Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
– 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.
Typically, your free mortgage appointment in Nottingham will take approximately 30 mins.
After the appointment, we can provide you with an agreement in principle, usually within 24 hours. Once you have decided to proceed, the next step is to submit your mortgage application.
On average, it takes about three weeks to receive a formal offer from the mortgage lender.
A telephone call where we can take some initial details and find out about your plan of action.
Enjoy finding a property in Nottingham!
Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.
Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.
A telephone call where we can take some initial details and find out about your plan of action.
Enjoy finding a property!
Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.
Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.
