A complex mortgage is one where your needs fall outside of standard circumstances. If you have a complex income, have no previous employment history or  limited credit history, you fall within the complex mortgage criteria.  This means that mortgage lenders with tight criteria will automatically view you as a risk and could choose not to lend to you. But that doesn’t mean you don’t have options. Flexible lenders like us will view your case in more detail and will have mortgage lending criteria that factor in your individual circumstances.

Mortgages are approved or declined on the strength of your income - and your ability to pay back the amount borrowed is judged on evidence of that income. Proving this is far more straightforward for those in long-term permanent employment; it becomes much more complicated for those with unusual sources of income. This could be someone that earns from multiple income streams or is self-employed.

Yes. If you are self-employed or work as a contractor or freelancer, and are looking for a mortgage, there are lenders that have criteria specifically designed for your circumstances. The most important thing here is finding a lender that will take the time to understand you and your situation.

This is a good example of a complex income stream. If you are a limited company director, it is likely your income is a combination of salary and dividends. If this is the case, assessing affordability must factor in both, and that adds a layer of complexity to your mortgage application.

If your circumstances are complex, don’t assume you won’t meet the criteria. A flexible lender will do thorough case profiling, talk through your situation and assess your mortgage application based on whether or not you can afford your mortgage. A lot of high street lenders will have a set tick list for affordability checks. If a lender underwrites manually - as is the case at Furness Building Society - then a full appraisal will be conducted to assess affordability.

As with regular mortgage applications, you still need to prove your income when it comes from a more complex source. For company directors, typically lenders need to see a minimum of two years of accounts to assess affordability. Doing so gives them a good idea of how stable your income is, which gives a good indication of your ability to repay your mortgage. You can read more on our guide to getting a mortgage when you’re self-employed here.

Your credit history, i.e the historic evidence of your ability to pay back borrowed money, is a big part of your mortgage application because it shows a lender how responsible you are with your finances. There are situations where buyers don’t have a credit history. This could be the case for a young first time buyer, a returning expat or someone still living with their parents. As with being self-employed, don’t assume you don’t meet the criteria if you have no credit history. Find a lender that will talk through the complexity of your situation. By talking through the case, specialist lenders like Furness Building Society can push the boundaries and find a product that works for you.