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Specialist sector driving activity

Journalist: Jake Carter, Mortgage Introducer

ended 01. August 2023

Despite concerns over rising mortgage rates and inflationary pressures, the mortgage market was still highly active, with specialist sectors driving activity, data from Legal & General’s Ignite platform has revealed.

Which areas of the specialist market have you seen performing well?

Why do you believe this area of the specialist sector has remained active?

What is the specialist sector doing differently from others?

1 responses from the Newspage community

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Editor
Darryl Dhoffer
Founder at The Mortgage Geezer

The specialist lending sector should be performing well in 2023.
The increasing complexity of lending criteria. Mainstream lenders are becoming more stringent in their lending criteria, which is making it more difficult for borrowers with complex financial circumstances to get a mortgage. Specialist lenders are more flexible in their lending criteria, so they can help these borrowers.
They are more flexible in their lending criteria. This means that they may be able to lend to a client even if they have a complex financial history.
They offer a wider range of products. This means that they may be able to find a product that is right for a client's individual needs. They have more experience in dealing with complex cases. This means that they can help clients to navigate the lending process and provide options.
They serve a market for the underserved, however, more can be done, for lenders to fully understand their criteria, particularly when it comes to adverse-based clients.