Martin Coates, marketing director of LSM, said: “It is very rare to find a completely hopeless mortgage case. Most lenders are only interested in making borrowers fit into their lending models. LSM is different.
We actively look at ways to make a mortgage offer where other lenders decline. Put simply, LSM is interested in taking on mortgages for people who have the intent to repay but are receiving income from sources that other lenders are not happy to accept.
LSM will also help people who wish to buy unusual property, which other lenders see as a risk to the security of their loan, such as high rise flats and construction types that are usually an automatic decline.”
John Mawdsley, director of national packager, The Mortgage Partnership, said: “LSM has been a welcome addition to our lending panel and has proven to be an extremely effective partner already.
“It is always prepared to look at cases that have slipped through the net and our brokers are very pleased that there is a resource like this which they can use.”
Rob Clifford, managing director of Mortgageforce, commented: “All brokers need to be able to accommodate a wide variety of clients, from the high net worth and very conforming to the very non-conforming. Lenders like LSM mean they can do just that.”
