Rise in broker queries relating to expat lending

The fourth quarter of 2021 saw an upsurge in queries from brokers relating to expat lending, according to PRIMIS Mortgage Network.

PRIMIS revealed that its product desk helped appointed representative (AR) advisers with 6,075 queries in Q4 2021.

The rise in expat lending queries for for both residential and buy-to-let (BTL) borrowers followed a number of lenders reintroducing higher LTV BTL mortgages for expats and a softening of the criteria needed to apply for these products.

PRIMIS also reported that other common queries from brokers included those around adverse credit – with the network’s product desk continuing to see an increase in queries regarding mortgages for those with adverse credit. According to PRIMIS, there is now a “significant appetite” among lenders to help these types of borrowers, and a wide range of mortgages on offer to those with more complex financial circumstances.

“Demand in the mortgage market clearly remains strong, with Q4 being one of the busiest periods throughout 2021, and we are pleased to see that brokers continue to see the value in the support we offer,” commented PRIMIS proposition director, Vikki Jefferies.

“Lenders have regained confidence as they introduce more options for borrowers with complex circumstances, such as adverse credit. For brokers, access to this broader range of mortgages could be critical to helping them support these customers to find a good deal, particularly with the recent rise in interest rates, and the possibility of further increases throughout 2022.

“Working together with the right network can empower brokers by giving them access to the most suitable and affordable products that meet their clients’ needs, and we look forward to continuing to provide our invaluable support to our brokers as we enter 2022.”

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