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Lender product withdrawals and specialist lending

Journalist: Anna Sagar, Mortgage Solutions / Specialist Lending Solutions

ended 29. September 2022

Looking to speak to mortgage brokers about lender product withdrawals and specialist lending market. 

  1. Are specialist lenders following suit and removing and repricing products?
  2. What impact is recent turmoil having on specialist lending market? Is product choice more limited or are you having to use more specialist lenders as mainstream lenders remove products?
  3. What is the margin between specialist lender and mainstream lender pricing and is it getting closer? What is the trajectory for specialist lender pricing?

1 responses from the Newspage community

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Editor
Emma Jones
Managing Director at Whenthebanksaysno.co.uk
Yes they are! We have seen repricing and withdrawals from a few lenders this week within the specialist space which include Kent Reliance, Precise, Pepper Money, Bluestone and a few more. This has left product choice more limited for clients that are more complex so it is a challenge. We are hoping that over the next few days and into next week we will see the lenders opening up their product offerings again so we can service the clients that don't fit 'in the box' with the high street lenders that are currently missing out. The gap is closing in terms of rate offerings between mainstream and specialist but the deals available have reduced every day this week. We are hoping to hear some more news in the coming days into early next week to get an idea of what the new offerings will look like once they are announced.