Specialist Mortgage Brokers

March 29, 2019

Liz Syms on FCA’s Mortgage Market Study: A Resilience-Focused Perspective for Specialist Mortgage Brokers. Liz Syms, CEO of Connect for Intermediaries, shares a specialist broker’s perspective on the Financial Conduct Authority’s (FCA) final Mortgage Market Study, a pivotal review with implications for adviser-led resilience planning.

The FCA’s comprehensive report reviews the first-charge residential mortgage market and confirms that, while the market functions well in many areas, it still exhibits key weaknesses. These shortcomings, particularly an overemphasis on price at the expense of suitability, have left some consumers underserved and financially exposed.

The final findings call for improvements in mortgage and financial resilience, where brokers and advisers play a vital role. Liz highlights that shifting the focus from cost to value-added services, such as income protection and financial planning, can better safeguard clients during income shocks and economic uncertainty.

These insights align with advisers’ efforts to strengthen client resilience strategies by integrating protection tools and broader planning into everyday mortgage advice.

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Lender Criteria Transparency and the Value of Broad Mortgage Panels

In the evolving UK mortgage market, clarity around lender criteria remains a key challenge for advisers and clients alike. While the industry continues to improve, the Financial Conduct Authority (FCA) has identified a persistent gap in the clarity with which mortgage eligibility criteria are presented, particularly to intermediaries.

Platforms like Knowledge Bank and Smartr Criteria provide some support, yet many advisers still rely heavily on personal experience to interpret nuances in lender policy. According to the FCA’s mortgage transaction analysis, limited transparency, particularly regarding factors such as credit scoring and loan-to-income (LTI) ratios, continues to hinder consumer outcomes. As a result, eligible borrowers often miss out on better mortgage deals due to hidden or misunderstood requirements.

The FCA has emphasised that improving transparency around financial and mortgage resilience factors would help consumers make informed decisions. Clearer visibility into mortgage affordability criteria, combined with adviser expertise, could significantly boost approval rates and suitability.

Critically, the FCA’s findings also reveal that advisers working with broader lender panels tend to secure more favourable outcomes for their clients. Access to a diverse panel provides more tailored product options and a better fit for unique client profiles, such as first-time buyers, contractors, and those with adverse credit. For a closer look at the value of lender access, visit our guide, “Mortgage Network for Advisers.”

However, concerns persist. Some adviser panels focus narrowly on niche client types (e.g. self-employed borrowers), which can unintentionally restrict product choice and affordability. This trend highlights the need to balance specialist lending with wider market access, a core principle of building clients’ financial resilience.

To address these challenges, the FCA advocates for industry-wide collaboration. It calls on lenders to openly publish qualification criteria, including minimum credit scores, accepted income types, and property restrictions. Enhanced transparency, supported by adviser training and technology, enables better client income protection strategies and ensures consumers aren’t excluded from the market by opaque eligibility filters.

As AI-powered tools and open banking integrations become more common, there is real potential to transform how criteria are surfaced and matched to applicants. Advisers who embrace these tools alongside access to expansive lender panels will be best positioned to offer resilient, future-ready mortgage advice.

How to Compare Specialist Mortgage Brokers

Finding the right specialist mortgage broker can be a crucial step in ensuring your clients achieve long-term financial resilience, especially in today’s challenging market. Whether your clients need help with complex cases like adverse credit, buy-to-let portfolios, or bridging finance, comparing brokers is about more than just rates. It’s about trust, tools, and tailored advice.

Here’s what to look for when comparing specialist brokers:

Relevant Expertise in Niche Lending

Look for brokers with hands-on experience in areas such as self-employed mortgages, commercial property, or bad-credit financing. Their knowledge of specialist lenders can make the difference between a declined case and a successful application. You can find experienced professionals in our Mortgage Adviser Directory, a great place to begin your comparison.

Network and Lender Access

Is the broker part of a strong Mortgage Network for Advisers? This can significantly impact their access to exclusive or semi-exclusive lenders. Networks also offer compliance support, business tools, and training that help brokers stay sharp and efficient.

Client Protection and Resilience Planning

Brokers should advise beyond just mortgages. Look for those that include protection planning, such as income cover or critical illness policies, to safeguard clients’ finances. Refer clients to brokers who prioritise Protection and Insurance in holistic financial advice.

Digital Tools and Support Services

In today’s landscape, digital capability matters. Top-performing brokers use AI-powered affordability calculators, secure document portals, and CRM integrations. Advisers supported by Adviser Support Services tend to deliver faster, more accurate results with better compliance oversight.

Transparency and Client Reviews

Lastly, review testimonials and case studies. Ask: Do they explain things clearly? Do they offer fixed fees or clear pricing models? Trust is everything, especially for clients in vulnerable or complex financial positions.

Mortgage Switching Challenges and the Impact on Mortgage Prisoners

In today’s evolving UK mortgage market, financial and mortgage resilience is more important than ever, especially for vulnerable borrowers. Recent findings have highlighted major concerns around lender practices, rate switching, and the treatment of struggling consumers.

An estimated 10% of mortgage borrowers could access more competitive deals but remain inactive, missing out on potential savings. While many customers may be eligible to switch, some lenders selectively target specific groups with rate-switch offers, often aimed at borrowers who are most likely to consider leaving. This practice raises concerns around fairness, transparency, and consumer outcomes.

The Financial Conduct Authority (FCA) has responded by launching further investigations into these targeted switching practices to ensure they align with Consumer Duty principles. Their goal is to improve outcomes for borrowers and reduce exploitative behaviours in the switching process.

Evolving FCA Guidance and Mortgage Resilience: What Advisers Need to Know

The FCA continues to shape its approach to responsible lending, focusing on easing transitions for clients who may no longer need to borrow. As part of its broader strategy on financial resilience for advisers, the FCA is inviting feedback on proposed updates to lending regulations to encourage industry-wide dialogue and adaptation.

These regulatory updates are expected to reflect key shifts across the mortgage and financial sectors. A centralised adviser registry is increasingly seen as essential for improving transparency and operational efficiency. Intermediaries are advised to review how these regulatory developments may impact their lender panel selection, client servicing, and overall business model.

This movement highlights the industry’s growing need for mortgage resilience not just for borrowers, but also for brokers and firms. The FCA reinforces the importance of ongoing innovation to meet clients’ changing financial needs, especially in a climate marked by income shocks, affordability issues, and evolving protection requirements.

As these updates take shape, advisers and businesses should proactively assess their strategic partnerships, compliance protocols, and client engagement strategies. Leveraging tools such as AI-powered compliance platforms and protection planning solutions can help firms remain agile while delivering better customer outcomes.

Now is the time to review your operational approach and embrace forward-looking adviser support strategies. For further insights into how you can strengthen client outcomes during regulatory shifts, explore our pages on Protection and Insurance and Adviser Support Services.

By prioritising adaptability and cross-sector collaboration, mortgage advisers can build lasting financial resilience and position themselves to succeed in an evolving regulatory landscape.

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FAQ | Specialist Mortgage Brokers

Question	Answer
What does a “specialist broker” mean within the Connect network?	A specialist broker handles complex or non-standard cases such as self-employed applicants, large loans, bridging finance, commercial lending or clients with adverse credit. At Connect, our specialist brokers benefit from an extensive lender panel and tailored support.
Why choose a specialist broker rather than a standard mortgage adviser?	Standard advisers are equipped for typical residential cases. A specialist broker adds value when your application involves unusual income structures, international clients, buy-to-let portfolios, or bridging finance. They bring the knowledge and lender access needed for more challenging cases.
What types of specialist mortgages can Connect’s brokers help with?	Our specialist brokers are experienced in cases including: buy-to-let, portfolio landlords, contractor and freelance income, limited company mortgages, bridging finance, commercial property mortgages, and adverse credit or complex affordability scenarios.
How wide is the lender panel available for specialist cases?	Connect’s network offers one of the broadest lender panels in the UK, including high-street lenders, specialist underwriters and niche finance providers. This breadth supports our specialist brokers in finding the right product for each unique case.
Is there extra support for brokers working within the specialist category?	Yes. Brokers joining Connect receive dedicated training, compliance and underwriting support, and access to our technology platform that streamlines documentation and case tracking. We equip brokers to operate confidently with specialist cases.
Can a specialist broker assist with both protection and mortgage advice?	Absolutely. Many of our specialist brokers also provide protection and insurance advice. They understand the links between lending and protection products and can structure the whole-client solution accordingly.
How do I know if my case requires a specialist broker?	Suppose your mortgage scenario includes one or more of the following: non-standard income, self-employment, high loan-to-income, multiple properties, bridging or development finance, or you believe your credit profile will present additional hurdles. You should choose a specialist broker. You can discuss your case with our team to assess whether specialist support is appropriate.