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3 Reasons Why You Should Choose a Specialist Lender

When considering taking out a mortgage to purchase a property or cover the cost of a refurbishment, there are numerous places you can borrow money from. Generally, lending for property mortgages and loans are split into high street or specialist lenders.

Simply put, specialist lending is when someone receives a loan from a lender who isn’t classed as a high street bank or building society. Despite many people believing that high street lenders are the ‘better’ option, there are many benefits of using a specialist lender.

Below, our team has highlighted a few advantages of why you should consider a specialist lender for your property mortgages:


Specialist lenders offer a variety of products

One of the advantages of using a specialist lender is that they are able to provide a range of mortgages, whilst offering bespoke services tailored to each client’s needs. These loans range from bridging finance and development finance to buy-to-let loans and commercial mortgages. Mortgage specialists typically match the loan you require to the type of property you are purchasing. For instance, your home, an auction property purchase, a buy-to-let property, or commercial property. Each of these property types requires a different loan.


The loan criteria for loans is not as strict as high street lenders

After high street lenders tightened their lending criteria for receiving mortgages, the interest in specialist lenders began to rise. Unlike high street lenders, specialist lenders are more likely to accept mortgage requests from applicants with a bad credit score and applicants such as expatriates, unlike high street lenders. This means that despite not meeting the criteria for the bigger and more popular banks, you could still receive a loan for your property purchase.

High street lenders have high criteria for applicants to meet and will consider your credit history. Banks typically use automated computer software to determine whether or not you will receive a mortgage. On the other hand, specialist lenders will take the time to understand your situation and see whether they can help. They will often want to speak with you or conduct a visit to better understand your application. This is often done through them taking the time to build relationships with clients.


More cost and time-efficient

Working with a specialist lender instead of a high street bank or building society could save you a lot of time and money, as their mortgage processes are typically much faster. Furthermore, they will get you access to a loan a lot faster than a local bank. Not only this, but specialist lenders can also save you money by offering a wider variety of interest rate options, which could be more cost-efficient in the long run.

In addition to this, specialist lenders support their clients throughout the entire loan process, always at hand whenever clients need them. They are able to dedicate the time to cater their services to your needs and spend the time to nurture their relationship with clients.


Why choose us

Choosing a specialist lender to provide you with the right kind of finance can help relieve stress that you would otherwise potentially get dealing with your local bank. Not only are we readily accessible, but we will also build a solid relationship with you and will shape a bespoke financial solution for your venture.

We always go above and beyond to find the right solution to match your requirements and offer you the support that high street banks typically don’t offer. We also offer a variety of different mortgage options to support you in property financing and are supervised by the FCA and registered with the ICO for the purposes of protecting your data.

Why not contact us today to find out more about what services we offer?

Speak to our team on 0330 202 0109 so we can help you with your next property venture.

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