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Specialist Lending in 2023

At Cityplus Network, we have seen first-hand the evolution of the lending industry over the years. In recent times, the demand for specialist lending has increased significantly, and it is crucial for advisers to diversify into other income-generating revenue streams.


In this blog post, it will delve into the reasons behind this trend and provide insights on how advisers can stay relevant and meet the changing needs of their clients.


Specialist lending has become increasingly popular over the years, and this trend is expected to continue in 2023. This type of lending caters to clients who do not fit the traditional lending criteria or who have unique financial circumstances. Examples of specialist lending include self-employed mortgages, interest-only mortgages, second charges and buy-to-let mortgages.


There are several reasons why the demand for specialist lending has increased. Firstly, the housing market has become increasingly competitive, and lenders are looking for ways to attract and retain clients. Specialist lending provides an opportunity for lenders to expand their client base and offer tailored solutions that meet the unique needs of their customers.


Secondly, the financial landscape has changed significantly, and clients' financial situations have become more complex. For example, the rise of the 'gig' economy means that more people are self-employed or have non-traditional sources of income that require a manual approach to underwriting.. Specialist lending caters to these clients by providing flexible solutions that take into account their unique financial circumstances.


Thirdly, the COVID-19 pandemic has had a significant impact on the economy, and many people have experienced financial hardship. Specialist lending provides a lifeline for clients who may not qualify for traditional mortgages but still need access to credit to purchase a home or invest in property.

Given the increasing demand for specialist lending, it is important for advisers to diversify into other income-generating revenue streams. Advisers who focus solely on traditional mortgages may miss out on opportunities to meet the needs of clients who require specialist lending solutions. By diversifying into other revenue streams, advisers can stay relevant and expand their client base. It also helps advisers evidence that they are working in the spirit of the Consumer Duty but proving holistic advice.


There are several ways that advisers can diversify into other income-generating revenue streams.


  1. Advisers can offer specialist lending solutions alongside traditional mortgages. This approach allows advisers to meet the needs of clients who require tailored solutions while still offering traditional mortgages to clients who fit the standard lending criteria.

  2. Advisers can expand their services to include other financial products such as insurance, second charges, GI, wills & trusts etc. By offering a comprehensive suite of financial services, advisers can become a one-stop-shop for clients' financial needs and generate additional income streams.

  3. Advisers can leverage technology to offer online advice and expand their reach. With the rise of digital technology, more clients are looking for online advice and solutions. Advisers who offer online services can tap into this market and attract clients who may not be able to visit a physical office.

At Cityplus, we equip our advisers with the necessary tools to fulfill their responsibilities. Through the Smartr365 CRM platform, both advisers and clients can enjoy a digital experience that includes lead generation via QR codes, portals for clients and introducers, automated workflows and notifications, as well as integration to submit and apply. Additionally, we have access to a broad range of specialist lenders who can cater to even the most complex situations. Our advisers are also supported by a mortgage club that offers a packaging service free of fees. Our objective is to prevent advisers from turning clients away. Instead, we take a comprehensive approach to evaluate their circumstances and determine the best course of action. If a solution is not feasible at the moment, our advisers should be capable of communicating this to the client and managing their expectations accordingly.


In conclusion, the demand for specialist lending is expected to continue in 2023, and it is important for advisers to diversify into other income-generating revenue streams. Specialist lending provides an opportunity for advisers to meet the unique needs of their clients and expand their client base. By diversifying into other revenue streams, advisers can stay relevant and meet the changing needs of the lending industry. Advisers who are willing to adapt and embrace change will be well-positioned to succeed in the years ahead.

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