A specialist mortgage is a type of mortgage that is designed for individuals who may not meet the eligibility criteria for standard mortgages offered by high street lenders. These mortgages are tailored to the specific needs of the borrower and may have more flexible lending criteria, allowing individuals with a less than perfect credit score or unusual income to secure a mortgage. Specialist mortgages can take many forms, including self-employed mortgages, contractor mortgages, buy-to-let mortgages, expat mortgages, and adverse credit mortgages. These types of mortgages are typically offered by specialist lenders who have expertise in dealing with more complex financial situations. It is important to note that specialist mortgages may have higher interest rates and fees than standard mortgages, reflecting the increased risk to the lender. As such, it is recommended that individuals seeking a specialist mortgage consult with a mortgage advisor and carefully consider the costs and risks associated with the mortgage before making any decisions. Moneybrain Advice Ltd is Authorised and Regulated by the Financial Conduct Authority in respect of mortgage and insurance advice (FRN 940441).
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