We use the following approach to source the best non-residential mortgages for our clients:
- Understand the factors relevant to the borrower
- Agree on the criteria of the transaction
- Research the best deals in the market that meet these criteria
We will allocate one of our mortgage advisers to you to conduct the research. Your mortgage adviser will work closely with you to agree upon a set of search criteria, followed by a detailed search of the market to find you the best mortgage.
The advice that you receive
Our advice will come in the form of a written report setting out the various options available to you. This report will highlight
- All repayment options
The pros and cons of each option
A final recommendation
View an example of one our client reports here.
Our research models
We use two models for our non-residential mortgage research:
We don't charge for our initial assessment.
1. Standard cases
“Standard” cases are those cases where:
You (as the borrower) have Indefinite Leave to Remain (ILR) in the UK or possess a British or EEA passport
You are employed or, if self-employed, have two years’ tax returns that fit the borrowing requirement
The loan-to-value (the mortgage as a percent of the property value) is 80% or less
In these circumstances, you are likely to fall within the lending policy of most lenders; this allows us to conduct the research without needing to make special arrangements with any lender.
We will provide you with a range of deals that best meet your criteria and advise you on the best options going forward.
2. Non-standard cases
A classification of “non-standard” applies to those cases where:
You (as the borrower) are not a British passport holder and do not hold ILR
Your earnings cannot be backed up by two year’s P60 employment income in the UK
The proposed mortgage amount exceeds three times your annual employment income
The loan-to-value (the mortgage as a percent of the property value) is more than 75%
The proposed mortgage is greater than £1,000,000
The "non-standard" route occurs where a case falls outside of standard lending policy. In these cases, we are required to spend additional time researching your options and arguing your case with underwriters.
We may need to charge a fee if we spend significant time researching your options, but we will communicate this to you clearly if this situation arises. This will be the only fee you pay us, as the lender will pay us a success fee on completion.
If the lender success fee is below £750, we will ask you to pay the difference as a brokerage fee. The brokerage fee will be payable on issue of the mortgage offer. For example: A £200,000 loan would have a success fee of approximately £680; £680 is £70 below the £750 lender success fee. We would therefore ask you to pay a brokerage fee of £70 on issue of the mortgage offer.