Having read last week’s magazine and email updates, where numerous industry figures commented on the UK’s non-conforming mortgage market taking a downturn, some quoting as much as a 40% loss in business, I felt compelled to write an open letter to intermediaries to reassure them that while the non-conforming market hits a low point, there are other markets that can fill the gap in their business levels.

With many of the UK’s large non-conforming lenders struggling to fund their non-conforming products, and as a result, having to increase their rates to pull back from the market, luckily the mainstream commercial mortgage market is not suffering the same fate as non-conforming commercial lending. If intermediaries are concerned about losing their non-conforming business and subsequent procuration fees, they should investigate the opportunities open to them with small-balance self-certification commercial.

Do not let this downturn in non-conforming be a downturn in your business success.

Colin Bell

Operations director

InterBay Commercial