Specialist Mortgages

We are not your standard mortgage advisory service.

Active has established itself as the go-to mortgage advice gurus, particularly for the types of mortgages that deviate slightly from the norm. We are not your standard mortgage advisory service, we are so much more than that. Our purpose is to make your property purchase as smooth and as hassle free as possible – even if your circumstances are outside of a standard mortgage on a residential property, with a steady income structure.

Active offers a wide range of services and they include a range of specialist mortgages that are traditionally harder to obtain for applicants due to their riskier nature, or the fact that they are less common or just harder to process. We purposefully employ discrete yet collaborate teams, which each specialise in different types of mortgages so that when you are looking for advice you are receiving impartial and expert guidance, above and beyond what another adviser might be able to offer that does not specialise.

The main specialist mortgages that Active can help you with are mortgages for a house of multiple occupancy (HMOs) which are becoming increasingly popular in this modern age and with the cost of renting and living climbing all the time. They are traditionally harder to obtain because of the lack of unity between the occupants and the risk to the value of the house due to apathy towards maintenance. Serviced accommodation and holiday lets are also tarnished with the same brush and therefore these mortgages require a little more specialist knowledge and process.  

Ex-pat mortgages also have their unique requirements because the British citizen is not living in the UK, so it is harder to prove income and provide security. Active’s ex-pat team deal with this every day so can answer your questions efficiently and provide you with peace of mind and help move your mortgage application forward.

The other common specialist mortgage that we deal with on a daily basis are SPV mortgages. Choosing to set up a limited company and renting out property through that “special purpose vehicle” is more complex than a limited company or a sole trader securing a buy to let mortgage so the boxes to tick are considered more specialist. Our mortgage advisers understand SPV mortgages and can help you secure your mortgage requirements.

Click on the links below to get more information about our different types of specialist mortgages that we are experts in. If the type of mortgage you are looking for help with is not listed, we can still help! Contact us today to book a consultation and our experts will make it happen for you.

Further information

HMO mortgages allow landlords to purchase a property to be used as a ‘house of multiple occupation’ (HMO). This type of accommodation is becoming increasingly popular amongst landlords as they often benefit from a higher rental yield. Its popularity is also growing with tenants as it allows them to have some personal space but can be much cheaper than renting a whole property. Tenants in an HMO are not considered to be of the same household and are charged individually for their rent.

An expat is a UK citizen who resides in a country outside of the UK. An expat mortgage is a specific type of mortgage that allows an expat to purchase a property in the UK, these can be either as a buy-to-let mortgage or a standard residential mortgage.

As an expat securing a mortgage on a UK property, you’ll find that it is not that straightforward, and your options are much more limited than as a UK resident. Many of the major UK high street lenders now require you to be a UK resident to borrow from them, tightening their lending criteria since the financial crisis of 2008/2009. However, there are specialist lenders that provide expat mortgages for UK properties, so hope is not lost.

Serviced accommodation mortgages are available for those looking to rent out a property to guests on short term lets, similar to holiday rentals. They operate similarly to a hotel: the accommodation needs to be cleaned after every use and fresh tea, coffee and milk supplied.

Serviced accommodation can generate high revenue if they are frequently booked out or if they have a ‘long-term’ short-term let, e.g. for a contractor who will be working on a local project for 6 months.

A holiday let mortgage can provide self-employed business owners with finance to fund the purchase of a holiday home or to re-mortgage, renovate or develop an existing holiday property. Holiday rentals can be a great investment opportunity, especially if the holiday home, though predominantly used by tourists, could also be enjoyed by you and your family.

Holiday let mortgages are different to buy-to-let or residential mortgages and, therefore, come with extra checks and a lower loan to value ratio, whether you are self-employed or not. The required deposit is likely to be between 25-40%, and the nearer to the top end you can afford, the better holiday let mortgage deal you will secure.

SPV mortgages are being increasingly used as a way to purchase property to rent out, and that is by setting up a limited company. This type of company is known as a ‘special purpose vehicle’ (SPV), which means it has been set up with the sole purpose of purchasing and managing property for its shareholders. SPV mortgages are popular with employed as well as self-employed landlords.

The buy-to-let market has been affected by the government’s recent tax relief restrictions so many landlords are looking to SPV limited company mortgages as a potentially more profitable method to purchase property.

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