That’s according to the latest specialist lending tracker research from Bluestone Mortgages, which found that 94 per cent of brokers are likely to refer their client to a specialist lender should they be rejected by a high street lender.
Brokers were also quizzed on whether their clients were aware of the difference between mainstream and specialist lenders. While 42 per cent said their clients were aware, 38 per cent of brokers reported their clients were unclear on the distinction.
Steve Seal (pictured), director of sales and marketing at Bluestone Mortgages, said that it was clear that specialist lending was needed, serving those who may otherwise be unable to purchase a home.
He continued: “Just because a borrower may not have a perfect track record, does not mean they should be barred outright from home ownership. Through tailored advice and individualised solutions, specialist lenders are continuing to secure positive outcomes for a broad range of customers.”