Earlier this year Kensington and Metro made their moves north of the border and it appears more are set to follow.
Thistle Finance managing director Mark Dyason (pictured) told Specialist Lending Solutions that a couple of other lenders were “getting on with the mechanics” of launching into Scotland.
Dyason noted that these were in the first and second charge sectors.
“We’re having discussions with lenders about coming to Scotland,” he said.
“There are lenders doing the ground work in first and seconds – there are people doing it.
“We’re excited by the opportunity that will bring and having more lenders to support the Scottish market.”
There is demand
He also explained that while the dynamics of the market were different to the hotbed of south east England, this was attractive to lenders for other reasons.
“There is a demand up here,” Dyason continued.
“It’s never going to set the world on fire, but if you’re looking for some fairly safe incremental lending you can write some smaller loans but to balance out the risk in a book by coming up to Scotland.
“This is particularly relevant when the south east is getting a little bit harder because house prices are not going up so fast, the strong competition there and the level of house prices to start with,” he added.