The Lending Channel prides itself on offing services you won’t find with many other brokers. Fully authorised and regulated by the Financial Conduct Authority, we not only arrange conventional residential mortgages but specialise in many niche areas of mortgage lending, including:
For those who find themselves underserved by the UK High Street Banks.
Millions of people have a mix of defaults, mortgage arrears, or missed payments on unsecured credit, with other consumers who find themselves in Debt Management Plans, IVAs (Trust Deeds in Scotland) or who have been made bankrupt. While other brokers may turn you away, we consider every client on a case by case basis.
Our fully qualified, friendly and experienced advisers are waiting to hear from you. All enquiries are dealt with on a no-obligation basis with no up-front fees and no charges for our advice and time taken to process applications (these will be fully agreed upon at the start of the application process).
Lenders don't always share your vision for what represents a dream home.
Perhaps that thatched roof isn't seen by them as a positive feature, or maybe you have your eye on a flat above a shop, an ex-Local Authority property that uses Pre Reinforced Concrete or a building that uses non-conventional construction techniques. Perhaps you want to offer an A-listed manor house!
When it comes to mortgage loans, anything out of the ordinary about your dream home's construction or potential resale attraction can give the mainstream lenders a nightmare. They want to know their capital is safe.
But with virtually every type of property, there is a lender experienced in that market. It's just a case of knowing who best to approach. That's where The Lending Channel, with our extensive panel of lenders, are your best ally.
Rest reassured, whether you're a first-time buyer or want a mortgage to move to a dream house, the whole process is no longer as isn't as difficult as it once was, at least for those who come to The Lending Channel.
If you want a self-employed mortgage (a description that now applies to one in five of the UK's working population), then there is a good chance that you too have found it hard to secure a loan offer through a High Street lender.
But don’t give up: when it comes to complex mortgage applications, The Lending Channel can help when others can’t.
That's because if you ask how most banks and building societies make their lending decisions, the answer is typical relating to proof of your monthly income – and that phrase is defined differently by each lender.
Through our extensive lender's panel, we can help you find the best mortgage product for your circumstances – even when you've been declined a mortgage offer by other lenders.
Typically, before they set up a loan offer, a lender will ask to see at least two years' earnings from the self-employed. That time constraint would be bad enough, but if you're self-employed, it might be that your income each month has been a mix of salary plus an element of dividend from your business. Even if you've drawn out the same amount for two years, many lenders will ignore the dividend, as it's not guaranteed.
If you currently work in a contracted position, under IR35 regulations, or work under the Construction Industry Scheme (CIS), you'll face similar problems.
Even with lenders familiar with the CIS Scheme, many often want to deduct expenses and tax from your quoted day rate, which will reduce the amount they are prepared to loan.
They might also impose additional requirements on you, such as asking for an increased minimum deposit.
Numerous lenders have woken up to the fact that employment patterns have shifted enormously in recent years. These lenders have products that will meet your circumstances. After all, more than 4.6 million people are self-employed in the UK, and that number is growing year by year (Office for National Statistics). That’s a big potential market – and we know where to look!
So whether it's help with applying for a mortgage, advice regarding your buy-to-let mortgages options to discuss your options based on your current situation, get in touch.
Running a guest house can be a desirable career, and the good news is, we can assist in any requirements you may have to forward your goal as we know that understanding which type of mortgage you need and what the requirements are can be difficult.