Flexibility is key as non-standard borrowers reshape the mortgage market

Rhys Edwards didn’t follow a typical path into financial services. A former professional martial artist, he left the ring in his early 20s and joined Citibank, later qualifying as a mortgage advisor just as regulation began to take hold. Now with Brooks, he brings more than two decades of experience to a market where increasingly, "normal" doesn’t apply.

"Demand is growing, with more people having side hustles and other avenues of income," Edwards said. "I’ve got clients from YouTubers to copywriters who also do social media and make a couple of grand a month from that."

Navigating complexity with lender relationships

As more clients earn across borders or blend multiple revenue streams, brokers are required to know not just the borrower, but the bank. "Certain lenders have the target market and the ability to look at things more favorably," said Edwards, pointing to Halifax’s contracting policy as an example of welcome flexibility.

Some cases border on the bizarre. "We’ve had overseas income - clients employed in the UK but paid in Euros, or in Singapore and paid in Hong Kong dollars. There’s a real mishmash out there." 

Edwards said the main friction is less about lender capability and more about client expectations. "Clients often think, ‘I can afford the monthly payments, so I should get the mortgage.’ But it doesn’t work like that. There’s a lot of financial education involved." 

Self-employed borrowers still face structural disadvantages  

While some lenders have evolved to consider net profits or dividends in self-employed cases, many policies remain rigid. "It’s down to taxable income. I work with accountants to explain how lenders assess affordability," said Edwards. He notes that while a handful of lenders allow self-employed directors to use net profits, others require a two-year track record and offer little flexibility.  

This gap can be compounded by underwriter discretion. "Some lenders are very black and white on policy, but the underwriter can still say no. That’s not always clear on their website." 

Brokers as educators and advocates 

Edwards believes a proactive broker can influence outcomes not just for clients, but across the industry. "Our company has influenced bank policy by providing feedback, like getting vested shares ring-fenced to cover school fees." 

He keeps an iPad filled with criteria from all lenders, enabling quick searches by keyword, and often reaches out to BDMs with niche cases. "Sometimes it’s just sending a round robin to see who can place a case, then working backwards." 

While high-net-worth clients often receive more bespoke consideration, he said the real challenge is with everyday borrowers. "More lenders are interested in bespoke, high net worth cases, but gaps remain for the everyman." 

A competitive edge in knowing where to go 

Case placement is becoming a competitive differentiator among brokers. "Some sourcing systems don’t highlight key nuances, so brokers pass on work to those who know how to handle it," said Edwards. That knowledge has led him to place loans with building societies like Dudley or Nottingham for edge-case properties or unusual income profiles.  

Even larger banks are evolving. Bank of Ireland and HSBC, he notes, are developing bespoke underwriting for complex cases, albeit often at higher income levels.  

"There’s a place for almost every client as long as they have proof of income and meet basic criteria," Edwards said. "The perfect borrower barely exists anymore, and that’s not a bad thing. It’s driving more competition." 

For advisors, staying ahead means deep product knowledge, active relationships with lenders, and a sharp eye for policy nuance. The market may no longer be built for the standard borrower, but with the right broker, that's no barrier to success.