About Us

Yes, we are an independent mortgage broker.

Under FCA regulatory rules, only mortgage brokers who are able to advise on the entire range of products available in the mortgage market are able to call themselves an “independent” broker. RM Mortgage Solutions are an independent mortgage broker so we offer advice and recommend products from across the mortgage market, based on a client’s individual circumstances.

Being “Independent” means our advisors provide mortgage advice from the whole of market. This can help save you from wasting time carrying out unnecessary research when we already have the information you need. If you want an independent advice service then we can help you; you really don’t need to search anywhere else.

As your mortgage broker we will take you through the whole mortgage process from start to finish.

We will commence by gathering information about you and your situation. Then we will research the market to find the most suitable mortgage deal for your circumstances. Through our connections we also have access to exclusive deals, which may not be available on the high street and may help to save you money.

We will then submit your application and chase it through to completion.

Is there is such a thing as a standard borrower today? We are regularly finding solutions for clients who don't quite fit the mould of a standard borrower.

• It may be that you're self-employed or have erratic earnings via, for example, overtime, bonus or “bank” work.
• If you are a CIS worker or contract worker there are lenders that will make life easier than others.
• Are you looking for an interest-only mortgage or want to borrow into your retirement?
• If affordability is tight, we can help as we know which mortgage lenders are more likely to approve your application.
• If you are thinking about buying a less conventional property, such as a flat over a shop or a home built using unusual materials then we know lenders that will consider an application.

The amount of mortgage you can obtain in the UK will depend on several factors, including your income, expenditure and credit history. Lenders today no longer use the income multiplier method to calculate how much you can borrow but have moved over to an “affordability calculator” method that not only takes account of your income and outgoings but also other factors such as the number of dependants you have and the total number of people in the household.

Unfortunately, each lender has their own affordability calculator making it more difficult to work out how much you can borrow. Whilst it is still possible to use the old income multiplier method of around 4.5 times your annual income as a guide, at RM Mortgage Solutions, we have more complex software that can more accurately confirm what each lender may offer. So, whilst it is perfectly acceptable to use an income multiplier as a guide, if you are serious about obtaining a mortgage it is important to speak to a mortgage advisor who can give you a more accurate estimate based on your specific situation.

We also provide a mortgage calculator which can help provide a guide to your mortgage payments, but again, it is important to speak to a mortgage broker for information specific to your circumstances.

We are able to assist with any type of mortgage whether you are:

• Buying or remortgaging a residential property.
• Buying or remortgaging a buy-to-let property.
• Buying or remortgaging a commercial property.
• Require bridging finance.
• Looking for an interest only mortgage.
• Need a mortgage running into retirement.
• Looking to undertake home improvements or an extension.
• Have bad credit or poor credit history.
• Looking to use a limited company structure.
• Thinking about investing in student lets, houses of multiple occupation (HMO’s) or Multi Unit Blocks (MUB’s).

Whatever your needs we can provide the help and advice to help make the transaction as stress free as possible.

The quick answer is, yes, it may be possible to get a mortgage with bad credit and we are regularly helping clients who have bad credit or a poor credit history.

Having bad credit means that you have, or have had in the past, late or missed payments, defaults, County Court Judgments (CCJs), or other financial issues that have negatively impacted your credit file. Lenders will take this into account when assessing your mortgage application, as it provides an indication of your ability to manage debt.

To improve your chances of getting approved for a mortgage with bad credit or a poor credit history, you may want to consider the following:

• Seek advice from a mortgage advisor as early as possible. A mortgage advisor can provide help and guidance on things that you can do to improve your chances of being accepted before you apply for a mortgage.
• Improve your credit score. You can improve your credit score by paying your bills on time, paying off any outstanding debts, and checking that your credit report is accurate. Ensuring that you are showing on the voters roll will also help your chances of being approved.
• Save for a larger deposit: Some lenders scoring systems become more lenient when the Loan to Value (LTV) is lower so, the larger the deposit you can provide, the more likely you are to be approved for a mortgage.

It's important to note that even if you are approved for a mortgage with bad credit, you may be offered less favourable terms than someone with a good credit score, so it's important to consider whether you can afford the repayments before taking out a mortgage.

We have assisted many self-employed people with their mortgages. The list of people we can help includes, but is not limited to:

• Trades people – plumbers, electricians, carpenters etc
• Shop owners
• CIS workers
• IT contractors
• Company directors – if the director owns more than, usually, 25% of the company shares they are generally considered self-employed for mortgage purposes.

There are lenders that will want to see 3 years accounts and average the income. However, there are a growing number of lenders that will only want 2 years accounts and some that are happy with just 1 year’s accounts. Whilst some lenders will average income, some will take the latest years income for calculating how much you can borrow, so taking advice is essential.

Contractors are in an even better position as there are lenders that will calculate borrowing capacity based upon their day rate and often only require a copy of the contract for proof of income.