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Stafford Railway Building Society has launched a variable rate product to target borrowers struggling to secure mortgages through the biggest banks and building societies.

The lender has some generous acceptance criteria and says it has a can-do attitude. Stafford does not have a maximum acreage on the amount of land a property can have and considers applications if the property has outbuildings or annexes. Stables, Paddocks, outbuildings are also acceptable on residential mortgages.

Stafford can look at agriculture ties and Section 106's if the solicitors can confirm the conditions are met and take a view on unusual properties like listed buildings and converted pubs.

The society will consider ‘knock through’ projects providing the property is habitable and it is being converted back to one residential dwelling.

Aaron Strutt, product director at Trinity Financial, says: “Many of our clients have complex financial situations or they are buying a less than standard properties. Our brokers will initially try to get applications through the biggest lenders as they have the cheapest rates and setup fees, but the smaller lenders regularly provide alternative options.

“Stafford’s rate is 3.45% variable for the term of the mortgage and available up to 75% loan-to-value. There is a 0.5% application fee and a 0.5% arrangement fee, and there are no early repayment charges. The overall cost for comparison is 3.70% APRC.”

Stafford Railway considers lending to clients with complex incomes and will take the latest year accounts, retained profits and help clients with multiple income sources. It will lend to the age of 85 with proof of pension and accept gifted deposits from family and non-family members.

Call Trinity Financial on 020 7016 0790 to secure a complex situation mortgage

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