specialist mortgages swansea

Specialist Mortgages

If your situation is a little bit different and does not quite fit into the regular categories of mortgage type, you may require a specialist mortgage solution.

We can help you with a range of specialist mortgage types that may fit your particular circumstances. It would be a good idea to get in touch with us and let us know what you want to do and we will do our best to help.

Some of the areas of specialist finance we may be able to help with are mortgages for the self employed, those with adverse credit, bridging finance, second charge mortgages and expat mortgages.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Enquire now

Specialist Mortgages

If your situation is a little bit different and does not quite fit into the regular categories of mortgage type, you may require a specialist mortgage solution.

We can help you with a range of specialist mortgage types that may fit your particular circumstances. It would be a good idea to get in touch with us and let us know what you want to do and we will do our best to help.

Some of the areas of specialist finance we may be able to help with are mortgages for the self employed, those with adverse credit, bridging finance, second charge mortgages and expat mortgages.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Enquire now
specialist mortgages swansea

SWAN MORTGAGES CAN HELP YOU WITH…

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Self Employed Mortgages

Getting a mortgage when you are self employed is very similar to getting a mortgage when you are employed. You will have access to the same lenders and same mortgage offers with the main difference being how income is assessed. As a self employed applicant you will need to be able to provide a minimum of one years accounts, but this will vary depending on the lender. When you get in touch with us we will match your circumstances against a wide range of lenders and their criteria, so we can find the best mortgage for you.

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Adverse Credit

If you have a poor credit history or have been refused by another lender, we may still be able to help you find a mortgage. There are some lenders that will accept applications where there has been previous adverse credit, contact us and we will assess your needs and circumstances against these lenders criteria. The process may be a little bit more detailed and may require more documentation but there are still some very good solutions available.

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Second Charge Mortgage

A second mortgage is a mortgage secured on a property that already has a mortgage secured on it. The second mortgage is a completely new mortgage with a different rate, from a different lender. The rate may be slightly higher due to the greater risk to the lender but it can still be a very attractive rate compared to other forms of borrowing. A second charge mortgage may be an option if you are unable to get a further advance from your lender, or your credit circumstances have changed since you took out your original mortgage. It is also an option to use a second charge mortgage to repay unsecured borrowing and lower your monthly outgoings. We are unable to provide you with advice on second charge mortgages. However, we can introduce you to an authorised and regulated Financial Adviser who can provide you with specialist advice.

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Limited Company Buy to Let

This type of buy to let is for a company specifically set up for the purpose of investment property. Some set up this type of company for tax reasons but you should consult a tax advisor to see if this is the right choice for you. If you do require a limited company buy to let mortgage then this is an area that we can advise and arrange this type of mortgage.

WE CAN ALSO HELP YOU WITH…

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Conveyancing

We can introduce you to an expert solicitor that will take care of the legal process of selling and buying your new home. ‘The Financial Conduct Authority do not regulate conveyancing activities’

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Protection

We have a great selection of protection providers to choose from to protect you and your family. We offer advice on life insurance, critical illness cover and also protection for your income.

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Home Insurance

Let us find the right inurance to protect your home. You need buildings insurance in place from exchange of contracts, we can arrange this for you and you wont pay us a fee for our help.

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Property Surveyor

A basic valuation of the property by the lender is usually sufficient. However, if you want a more in depth report on the property, we can introduce you to a local surveyor that can help with this.

SPECIALIST MORTGAGE FAQS

You will need to have been self employed for a minimum of 1 year and have submitted your first year’s accounts to HMRC.

Ideally you will be able to provide your last 2 years accounts and tax summaries. Most lenders assess how much you can borrow based on your last 2 years net profits, however this varies depending on the lender. Some lenders will assess income based on 1 years accounts and others prefer 3 years of submitted accounts to calculate how much you can borrow.

There are some lenders that will consider applications from those with an adverse credit history. Some lenders will consider applications from applicants that have had CCJ’s, missed or late payments and defaults. There are some lenders that may even consider a mortgage in the case of a past bankruptcy.

The interest rate will likely be higher when sourcing a more flexible lender that considers past adverse credit. It is also likely that you you may require a higher deposit, this reflects what the lender perceives as increased risk. 

A second charge mortgage will not have a negative impact on your credit score providing you maintain the regular monthly payments on your second charge mortgage and your first charge mortgage.

A second charge mortgage will usually take around 4 to 6 weeks to complete, a similar timeframe to a remortgage.