Moving to the High Street
Helping Customers Move from Specialist Lenders to High-Street Mortgages
For many homeowners, securing a mortgage from a high-street lender isn’t always straightforward. If you’ve previously had adverse credit or have a complex income, you may have turned to a specialist mortgage lender to get onto the property ladder. While these lenders provide a crucial service, their interest rates are often significantly higher than those offered by mainstream banks and building societies.
The good news? With the right guidance, you may now be able to transition back to a high-street lender—securing a far better interest rate and potentially saving thousands of pounds over the lifetime of your mortgage. This is where the expertise of a specialist mortgage broker becomes invaluable.
Why Did You Use a Specialist Lender?
There are several reasons why you may have needed a specialist lender in the past:
• Adverse credit history – Late payments, defaults, County Court Judgments (CCJs), or bankruptcy can make high-street lenders cautious.
• Self-employed or complex income – If your earnings fluctuate, come from multiple sources, or include dividends, some mainstream lenders may not have been willing to approve your mortgage.
• High debt-to-income ratio – If you previously had a high level of debt, mainstream lenders might have declined your application.
• Unique property types – Some properties (such as non-standard construction or those with short leases) are harder to finance through traditional lenders.
While specialist lenders provided you with a solution at the time, your circumstances may have improved—meaning you could now qualify for a high-street mortgage at a much lower rate.
How a Mortgage Broker Can Save You Thousands
A specialist mortgage broker does more than just find a new deal. They use their expertise to:
1. Assess Your Current Position
We will review your financial situation, credit history, and income structure to determine whether you now qualify for a high-street mortgage.
2. Improve Your Mortgage Profile
If your credit score has improved or your income is now more stable, a broker can help present your case in the best possible light to mainstream lenders. They may also recommend small changes—such as paying down certain debts—that could make a significant difference in the rates you’re offered.
3. Find the Best Interest Rates
Mortgage brokers have access to exclusive deals and know which high-street lenders are more flexible with previous credit issues or complex income structures. They can match you with a lender that suits your specific circumstances.
4. Guide You Through the Application Process
Switching from a specialist lender to a mainstream mortgage isn’t always straightforward, but an experienced broker knows exactly what documentation and proof of income each lender requires—making the process far smoother and quicker.
5. Plan for the Future
Even if you’re not quite ready to move to a high-street lender today, a broker can create a roadmap to get you there—advising on credit improvements, income structuring, and debt management to ensure you’re in the best possible position when your current deal ends.
The Potential Savings
Specialist mortgage lenders typically charge higher interest rates to offset their increased lending risk. For example:
• A specialist lender mortgage might have an interest rate of 6% or more.
• A high-street mortgage could be available at 4% or less, depending on your circumstances.
On a £200,000 mortgage, that 2% difference could save you around £4,000 per year—or £20,000 over five years!
Is Now the Right Time to Switch?
If you’ve been with a specialist lender for a few years, now is the perfect time to review your options. Many high-street lenders have softened their stance on past credit issues, and with the right guidance, you could be eligible for a much lower rate than you think.
Get Expert Help Today
A specialist mortgage broker understands the challenges of moving from a specialist lender to a mainstream mortgage. They know the lenders who will consider your case, how to structure your application for success, and how to maximise your savings.
If you’re ready to explore your options, get in touch today—because securing a better mortgage could mean thousands of pounds saved over the years ahead.
