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Demand for specialist lending expected to persist

Demand for specialist lending expected to persist
 Credit: Jason Alden/Bloomberg

Growth in demand for specialist lending is expected to continue over the long-term, according to Bluestone Mortgages, given the number of borrowers who could emerge from the pandemic with more complex borrowing needs.

The specialist lender has launched ‘The Age of the Unlendables’ campaign to highlight how brokers can work with the lender to support specialist clients, and how Bluestone can support unconventional borrowers, such as those with adverse credit.

An ‘Unlendables Toolkit’ is also available to support brokers on how to get non-standard borrowers approved for financing through the lender.

Steve Seal, managing director at Bluestone Mortgages, said: “[The] launch of our new campaign comes at a perfect point in our evolution as we reaffirm our commitment to serve unconventional borrowers and ensure that we are well-equipped to continue to meet the demand for specialist lending – something which we expect to last beyond the crisis.

“We are confident that the launch of our new campaign will give us a better opportunity to encourage more brokers to work with us. Ultimately, this will mean that we are better able to support non-standard borrowers over the long-term and that we can continue to strengthen our position as a specialist lender focused on serving the underserved.”

According to Bluestone Mortgages, its application volumes last month were two-thirds (68 per cent) higher than in September 2019, marking an all-time record month for the lender.

It added that between July and September, application volumes surpassed pre-Covid levels.

Aaron Strutt, product and communications director at Trinity Financial, commented: “Many borrowers are going to need the specialist lenders to get a mortgage if they do not qualify with the biggest providers.

“During the pandemic many people have really struggled financially so they need the flexible lenders to look at them more favourably.”

chloe.cheung@ft.com

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