The main reason for customers taking out mortgages over last 12 months was “multiple mortgages”, according to a survey by Unusual Mortgages.
A Top 10 Unusual Mortgages of 2016 survey, launched by Unusual Mortgages, surveyed 100 mortgage applicants who were not able to find their ideal mortgage directly through a high street lender and decided to approach an Independent Mortgage Adviser.
The next most popular reasons for taking an Unusual Mortgage in the research were: employment status, debt consolidation, income and affordability, and divorce and separation.
Speaking about their Survey, Chris Morgan, lead financial advisor of Unusual Mortgages said: “Unusual Mortgages are a progressive and innovative firm of Mortgage Advisers, who offer advice to people looking for mortgages who may not be able to obtain finance on the high street. We thought it would be interesting to run research into the most popular reasons why people might seek advice from a specialist Mortgage Adviser.”
“We decided to run the survey to encourage those people who may be declined for a high street mortgage through their bank, building society or financial adviser to approach a specialist broker. Just because the first mortgage lender or financial adviser turns an application down, it does not always mean that a mortgage cannot be arranged.
“The message is that if at first you do not succeed in finding Mortgage Finance, not to give up and approach someone who specialises in Unusual situations. Sometimes applicants do not fit into tick boxes and electronic processing systems, so find a financial adviser that will treat you as an individual and use their knowledge to run bespoke research on your behalf.”
Unusual Mortgages are a specialist firm of Mortgage Advisers that offer advice to people who are unable to fulfil conventional mortgage application criteria.