Mortgage broker CLS Money upped business volumes by 112% last year, predominantly due to increased specialist first charge business.
CLS Money, which was established in 2011, said most cases were introduced to non-high street lenders.
Clayton Shipton (pictured), managing director of CLS Money, said: “Specialist lending is definitely the place brokers need to be fully involved in. From the evidence we have seen a high percentage of active homebuyers and those seeking remortgages, typically do not fit the template of the average high street lender.
“There are a number of reasons why perfectly good cases do not fit the high street template, but they only tend to surface once we get past the initial sourcing sweep. Predominantly, change of circumstances, credit history, changes in job status, self-employment or gaps in employment history tend to crop up, along with issues involving the property, which can stem from specific instructions given to surveyors by individual lenders.
“The current generation of second and third-time homemovers were the first to face the full impact of the credit crunch and many are still carrying baggage caused by that event. Although it was over 10 years ago, the knock-on effects, in terms of changing the way people are remunerated and job security among other factors, have meant that more customers, thanks to their advisers, are turning to specialist lenders to fulfil their needs.”