Specialised mortgages are available to cater to your needs if you don’t fit the standard borrower profile or are purchasing an unconventional property. There is a large variety of mortgages available to accommodate various situations.

This article will explore mortgage options specifically created for individuals who may not qualify for a typical mortgage.

Holiday Let mortgages

If you plan to rent a holiday home, you should get a Holiday Let mortgage instead of a regular Buy to Let mortgage. The reason is that holiday homes are usually rented out for shorter periods, which makes lenders consider them riskier than traditional Buy to Let properties that are rented out for more extended periods, usually months or years.

If you plan to purchase a vacation home you intend to rent out, lenders will likely request a significant down payment, usually equivalent to 25% of the property’s value. Additionally, you must be capable of showing that you can manage to pay for the mortgage when the home isn’t being rented.

New build

Purchasing a newly constructed property is an excellent method of stepping onto or climbing the property ladder since it provides you with greater design freedom and fewer structural issues than an older or historic home. Additionally, new homes typically have a warranty in case of any problems.

Some lenders may not provide loans for new properties, especially newly built flats. Even if they do, there may be restrictions on the loan amount to the property’s value. As a result, if you plan to purchase a new build property, ensure you can obtain the necessary mortgage before making any commitments.

Shared Ownership

Shared Ownership mortgages can help you purchase a home even if you can’t afford the total price. You buy a portion of the property, usually between 25% and 75%, while a housing association owns the remainder. You pay rent on the housing association’s share but can increase your ownership by purchasing additional shares over time through “staircasing.”

Green mortgages

Borrowers who improve their home’s energy rating by installing measures like double-glazing or cavity wall insulation can receive discounted mortgage rates through green mortgages.

Homeowners can lower their heating bills and monthly mortgage payments by selecting a green mortgage. However, they must complete energy efficiency improvement works within a few months of the mortgage completion date to qualify for the discount. Typically, improving the Energy Performance Certificate (EPC) rating of the property by at least one band is a requirement to be eligible for the discount. There are various green mortgage options available.

Mortgages for Credit-Impaired Borrowers

If you have had trouble handling your debts, it might be difficult for you to get a regular mortgage deal. Situations such as not paying your loans on time, having County Court Judgements (CCJs), or bankruptcy may lead to homebuyers being rejected for a mortgage.

Mortgage providers categorize borrowers in such positions as more likely to default on their mortgages. Nevertheless, some specific lenders could be willing to assist.

If you’ve had trouble with debts and want to apply for a mortgage, you’ll likely need to provide a larger deposit than usual. Lenders may limit the amount they lend you based on your credit history, and you’ll likely face higher mortgage rates than those with good credit.


A self-build mortgage is designed for individuals who need financial support to construct their property or renovate an existing one. Typically, the funds are released in portions as the project advances, and the mortgage provider will assess the progress at each stage. Depending on the terms, the money could be released before or after completion of each stage.

Some new build deals require your land to build on, while others provide financing for the land and construction. Because building your own home is risky, it’s crucial to have a detailed budget and steady cash flow before starting a project and securing financing.

Self Certification

In the past, self-employed individuals could apply for self-certification mortgages that allowed them to state their income without needing to verify. This option is no longer available.

In recent years, the rules for getting a mortgage have become stricter. As a result, self-certification mortgages are no longer available. If you’re self-employed and want to apply for a mortgage, you must show evidence of your earnings and expenses. Usually, lenders will require you to provide at least two to three years’ worth of accounts before they consider offering you a mortgage.

Frequently Asked Questions

1. What is a specialist mortgage?

2. Who can apply for a specialist mortgage?

3. What types of specialist mortgages are available?

4. How do specialist mortgages differ from standard mortgages?

5. What are the eligibility criteria for specialist mortgages?

6. How much can I borrow with a specialist mortgage?

7. What are the interest rates for specialist mortgages?

8. How long does it take to get a specialist mortgage?

9. What documents do I need to apply for a specialist mortgage?

10. How do I find the best specialist mortgage for me?


Money advice service: https://www.moneyadviceservice.org.uk/en/articles/mortgages-how-to-get-the-best-deal

Which:  https://www.which.co.uk/money/mortgages-and-property/mortgages/mortgage-brokers-and-advisers-a9z7h0y6v8xg

Money Saving Expert: https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback

Compare The Market: https://www.comparethemarket.com/mortgages

Expatica:  https://www.expatica.com/uk/housing/buying/your-guide-to-uk-mortgages-747470

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