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Lenders will be looking for low loan-to-value clients such as people needing 50 per cent or less.

Some of the lenders have already come into the market with low loan-to-value products and we will see probably more and more of that as time goes on.

Whether lenders currently credit score or credit search, what I believe they will do is maybe use both systems. Where they will typically use Experian and credit score, they may also use Equifax and credit score as well.

Unless things are 100 per cent whiter than white, they will find reasons to kick out applications and they will be looking hard for good quality applications from advisers.

So if a lender looks at the introductions a certain IFA had given and sees out of these cases not one of them has defaulted, they will want to look after this firm rather than another firm whose introductions have got a 50 per cent rate of no payments or even cases that have gone into default.

Colin Parkin is director of Lincoln-based Ample Financial Services.