A former SPML director has called for lenders to fill a gap in the market with part-verified products.
Speaking at the Mortgage Business Expo in London, Gavin Hunt – who has previously worked at Kensington and SPML as well as panned lender Concert Mortgages – said that while lenders have dabbled in this market, no-one has gone wholeheartedly in it.
He heralded these products for those who only need part of their income to be self-cert.
He said: “There is no reason why someone can’t get their act together and offer good part-verified products. Brokers should encourage lenders to do this.”
Hunt said that it was better for lenders to offer these type of products as it reduced risk and there is a huge gap in the market.
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