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The residential mortgage 'state of the nation' August 2018

More brokers are realising that, by considering their individual circumstances, specialist lenders can help their clients to borrow more. Are your clients missing out by sticking to the mainstream?


The specialist mortgage market is known for providing an option for clients whose circumstances mean that they are declined by a high street lender, but it can also provide options for borrowers who want to maximise the amount they are able to borrow.


Specialist lenders are able to lend to clients whose circumstances mean they are overlooked by the high street because every case is individually assessed by underwriters who consider an application on its own merits. This approach also means that, in the right circumstances, some specialist lenders are able to advance more than a high street lender because they take the time to consider a client’s individual circumstances and affordability.


We see a lot of cases where a broker has received a positive decision in principle from a mainstream lender, but the amount the lender is willing to lend is not sufficient to meet the client’s requirements. Often, if the client is self-employed, works as a contractor, or has multiple sources of income that they would like to include towards the affordability calculation, a specialist lender will be able to more accurately consider more of their income than a lender that takes a more automated approach. On some occasions, where a borrower has very low financial commitments, a specialist lender can take these reduced outgoings into account and extend the loan size it considers to be affordable.

So, don’t just think about the specialist market for your failed credit scores – a specialist lender could also provide the most appropriate solution on good cases where an applicant wants to borrow more and can demonstrate good reason to stretch their affordability.


FIND OUT how we helped a retired couple remortgage, allowing them to remain in the family home