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This type of let is becoming more popular as can be more profitable as well as more tax efficient as if the property is a furnished Holiday Let then you can offset the mortgage interest. We do recommend seeking advice from a tax expert regarding this. More lenders are lending in this market but the criteria can be different for each lender so it is important you get the best advice from a Helping Hand Adviser who will have access to the whole market including specialist lenders to obtain the best deal and solution for your needs.
Whether it’s for your own main residence as a self build, renovation, conversion, custom build, home improvement, knockdown and rebuild, or a project of any scale to let or sell – Helping Hand can provide you with a wide range of tailor made solutions including exclusive mortgages, development finance and bridging.
Few brokers and lenders are experienced in self build mortgages, or aware of the many issues facing customers wishing to build their own home. In our experience, it is not always the lowest product that is the best advice as no point having funding agreed if it is not available when needed.
Each individual case is different and Helping Hand can help you operate efficiently in this market to tailor your specific needs with the right product for your project.
A remortgage may not be the best option depending on your circumstances and a secured loan may be the better option.
We look at the overall position of your requirements with you to come up with the best solution for you so you may be on a low rate currently with your lender and if remortgaged would have to accept an early repayment charge and higher rate to raise funds where a secured loan could be the answer to keep the low mortgage deal and raise funds on a secured loan to avoid any early repayment charge.
If you are aged 55 or older then a Lifetime Mortgage or a Retirement Interest Only (RIO) Mortgage may be the better option for you.
If you have had credit issues in the past then we still have lenders available to you.
If you have recently become self employed or started up a new business and have at least 1 year trading behind you with 1 years accounts or figures submitted to HMRC then we have lenders available to you.
If you have been trading for 2 years or more then majority of High Street Lenders will use an average of the last 2 years trading figures which may not get you borrow as much as you need.
However, we have specialist lenders who will consider using the latest years figures for affordability which can mean borrowing more your circumstances.
If you are trading as a Limited Company then lenders can look at the following as proof of income
Salary + Dividends
Salary + Net Profit
Some lenders may consider retained profit in a business and look at your share of the profit.
If you have recently become self employed or started up a new business and have at least 1 year trading behind you with 1 years accounts or figures submitted to HMRC then we have lenders available to you.
If you have been trading for 2 years or more then majority of High Street Lenders will use an average of the last 2 years trading figures which may not get you borrow as much as you need.
However, we have specialist lenders who will consider using the latest years figures for affordability which can mean borrowing more your circumstances.
If you are trading as a Limited Company then lenders can look at the following as proof of income
Salary + Dividends
Salary + Net Profit
Some lenders may consider retained profit in a business and look at your share of the profit.
If you are a Sole Trader then lenders will look at your Net Profit figure.
If you are working on a temprorary basis with an agency and not in full time employment then we will have lenders available.
As long as you have been working on this basis for at least 12 months with a track record then we can help you.
If you are working on a contract basis and have a track record over 12 months with a contract in place moving forward then we can help you. 1 Year Accounts
Helping Hand Mortgages Ltd is an appointed representative of MCB Financial Services who is authorised and regulated by the FCA.
Helping Hand Mortgages is entered on the FCA register under reference 988645 and Companies House reference 14513883.
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Helping Hand Mortgages Ltd is an appointed representative of MCB Financial Services who is authorised and regulated by the FCA.
Helping Hand Mortgages Ltd is entered on the FCA register under reference 988645
Helping Hand Mortgages Ltd is an appointed representative of MCB Financial Services who is authorised and regulated by the FCA.
Helping Hand Mortgages Ltd is entered on the FCA register under reference 988645
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Yes, you can still get a mortgage if you have had Pay Day Loans in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
High Street Lenders do not mortgage like to see pay day loans on a credit file or bank statement as indicates to them of financial difficulties in the past or currently as short term finance to manage current repayments.
It will depend on certain criteria based on the Pay Day Loans showing as registered such as:
When the loan taken out
How much was borrowed
How many loans taken out
How quickly they were paid off
The story behind why you needed to take the loans
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Yes, you can still get a mortgage if you have a low credit score or no credit score. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
High Street lenders are dealing with a high volume of cases each day so will credit score each application and if you do not meet that credit score then will decline the application on that basis alone. It is a computer says no situation with no appeal.
We will check with lenders who manually check your credit file so not dealing with a computer to find the best solution for you.
Yes, you can still get a mortgage if you have been Repossessed in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
It will depend on certain criteria based on the Repossession such as:
The date you were repossessed
The reason why you were repossessed
Any other credit issues
You credit history since being repossessed
Late payments can be common and payments can be missed in certain circumstances and we understand this and can still help find a solution for you.
Late payments are not as bad as a missed payment as you still made that payment. Normally as long as you made the payment before the next monthly payment due then would not show as a missed payment or arrear on your credit file.
We would need to understand the reasons that led to the IVA, how long ago it was and the impact that had on your credit file.
Yes, you can still get a mortgage if you have had late and/or missed payments on credit. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
Late payments can be common and payments can be missed in certain circumstances and we understand this and can still help find a solution for you.
Late payments are not as bad as a missed payment as you still made that payment. Normally as long as you made the payment before the next monthly payment due then would not show as a missed payment or arrear on your credit file.
We would need to understand the reasons that led to the IVA, how long ago it was and the impact that had on your credit file.
Yes, you can still get a mortgage if you have been in an IVA in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
We would need to understand the reasons that led to the IVA, how long ago it was and the impact that had on your credit file.
Yes you can still get a mortgage if you have a Debt Management Plan or been in one in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
With a Debt Management Plan you would be in an arrangement via a company like StepChange and be paying a lower amount to the people you owe over a longer period of time. This can affect your credit file as the people you owe money to will normally report it as an arrangement on your credit file, in some circumstances it may be reported as a Default.
Even if you are withing a Debt Management Plan there are specialist lenders who will still lend to you based on the payment history of the plan.
Yes you can still get a mortgage if you have been bankrupt in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
We would need to understand the reasons that led the Bankruptcy, how long ago it was and the impact that had on your credit file.
You can still get a mortgage with a Default. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
Some of these lenders will ignore small Default’s if registered by a mobile phone company or other communication companies.
It will depend on certain criteria based on the Default’s showing as registered such as:
When they were registered
If satisfied or unsatisfied
The value of the Defaults
The number of Defaults
The story behind the circumstances
You can still get a mortgage with a CCJ. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.
It will depend on certain criteria based on the CCJ’s showing as registered such as:
When they were registered
If satisfied or unsatisfied
The value of the CCJ’s
The number of CCJ’s
The story behind the circumstances