Myth busting the specialist lending market

As your clients’ circumstances grow more varied, you’ll find today’s mortgage market full of products catering to meet those needs.

Whether your client is a first-time buyer, self-employed or in a Debt Management Plan, getting the right mortgage is one of the most important financial decisions they’ll make, and a specialist lender could be the answer.

But ‘specialist’ may still seem daunting for some. We gathered our team to discuss the most common misconceptions surrounding the specialist market and their roles here at Pepper Money.

What is the biggest misconception about your job?

“That it’s easy and purely about rates and LTVs. In our market, it’s so important to make sure we are offering the right criteria to help brokers find a home for their clients and to ensure that the products we offer work well for their clients too. Product development is a much more involved and intricate process than people might think.”

Martin Brown, Head of Products

“One of the biggest misconceptions is when brokers say, 'I don't do your type of business'. The specialist market is slowly becoming the new mainstream. All brokers will work with some customers who could benefit from an individual approach to underwriting because of their employment or credit record. One in five applications will need to be placed away from the high street lenders. To those brokers, I say look at specialist lending as a tool to help your clients, not an entirely different sector.”

Phil Quinn, National Account Manager

“The biggest misconception of my job is that underwriters rely heavily on systems to make a decision. That's far from the case at Pepper Money, as a large part of underwriting is carried out on a human level, which takes into consideration the whole picture to arrive at a decision.”

Zenzi Tinkorang, Underwriting Specialist


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