More than three-quarters of mortgage intermediaries deal with specialist
as well as mainstream lenders, according to new research from UCB Home
The Nationwide Building Society subsidiary which specialises in lending to
self-employed people and other non-conformist borrowers says 78 per cent of
mortgage brokers use specialist lenders.
UCB says there are two major niches within the specialist market.
Buy-to-let loans account for 30 per cent of the market while
self-certification accounts for 35 per cent.
The remaining third of the specialist sector is made up of sub-prime,
self-build, 100 per cent loan to value and equity-release customers.
The survey says the two most important issues that intermediaries consider
when selecting a specialist lender are service and underwriting.
By contrast, mainstream lenders are judged on their range of products and
UCB Home Loans managing director Charles Reed says: “Changes in work
patterns in the UK are placing new demands on all lenders and, as a
specialist lender, UCB Home Loans is enjoying outstanding success in the
“Our ability to design more flexible products to meet the needs of this
growing market had meant that over the last five years gross lending has