Understanding why lender access matters when securing the right mortgage
When it comes to finding a mortgage, not all advice is created equal. Some advisers can only offer products from a small selection of lenders. Others are tied to specific banks or panels. But at NOVUS Financial Solutions, we are proud to be a whole of market mortgage broker — which means we can access products from the full range of lenders that work with brokers.
So, what does “whole of market” actually mean? And why does it matter for you?
What Is Whole of Market Mortgage Advice?
Whole of market advice means your broker can assess your needs and recommend a mortgage product from any lender that accepts intermediary business.
This includes:
- High street banks
- Building societies
- Specialist lenders
- Challenger banks
- Lenders with flexible underwriting for complex cases
A restricted adviser or in-house mortgage consultant (such as one working in a bank) may only be able to offer a handful of products from their own range, or from a limited panel of approved lenders.
Why Lender Choice Is So Important
At first glance, you might think most mortgage deals are similar. But the reality is that lenders have very different criteria, policies, and attitudes toward risk — especially when it comes to anything outside the norm.
Here’s where whole of market access becomes crucial:
1. Self-Employed Borrowers
Some lenders average income over three years. Others will accept just the latest year. Certain lenders will accept retained profits or director salary plus dividends. A limited panel broker may not offer those choices.
2. Contractors and Freelancers
Day-rate contractors, umbrella company employees, and short-term contracts are often treated very differently depending on the lender. A whole of market broker can match you to one that understands your income structure.
3. Expats or Overseas Income
Most high street lenders won’t support expats purchasing in the UK, or clients with foreign currency income. Specialist lenders can help — but they’re typically not accessible without a broker who knows the market.
4. Complex or Adverse Credit Histories
Clients with missed payments, defaults, or a history of debt management may still be eligible for a mortgage. But only certain lenders will consider the application, depending on how recent and severe the issues were.
Real-Life Example: Going Beyond the High Street
A client recently approached NOVUS after being declined by two high street banks. They were a limited company director with irregular income, combining PAYE salary, dividends, and investment income. Their own bank offered no solution.
Because we are whole of market, we approached a specialist lender that understands company directors. We spoke directly with a senior underwriter, built the case, and secured a competitive fixed-rate product — approved within 10 working days.
That application would never have succeeded through a restricted panel.
It’s Not Just About the Number of Lenders — It’s About the Broker Too
Access is only part of the picture. Knowing how to use that access is where experience matters.
At NOVUS, we don’t just look at the rate — we look at the bigger picture:
- Who underwrites your application?
- Can the lender make exceptions based on a well-argued case?
- Is the product suitable not just now, but in two, five, or ten years’ time?
We maintain strong relationships with senior underwriters, product teams, and business development managers across the market. This means we can often make the calls that other brokers can’t — and secure approvals where others might stop at the first “no.”
Why This Approach Works Better for Clients
Whole of market advice gives you:
- Access to more competitive and flexible products
- A better fit for your personal or financial circumstances
- A broker who works for you — not a bank or restricted panel
- More opportunity to save money over the life of your mortgage
- A better chance of approval in complex or non-standard cases
Final Thought: Don’t Let Limited Choice Limit Your Future
A mortgage is one of the biggest financial commitments you’ll ever make. Choosing a product based on a limited panel of lenders could mean missing out on better terms, more flexibility, or even the chance of approval altogether.
With NOVUS, you get advice that is truly independent, personalised, and shaped around the whole of the market — not just what’s available from one bank.
Want to explore your full mortgage options?
Talk to NOVUS today or visit novusfinance.co.uk to find out how we can help.
