Covid, rising costs and shifting work patterns have reshaped how people earn a living and with it, how they borrow. The result is a new era of complexity for advisers. From first-time buyers with side hustle income, to landlords with layered revenue streams or self-employed clients largely working from home, today’s borrower doesn’t always fit the traditional mould.
For brokers, that requires a mindset shift. Where client meetings might once have been rate-led, they now centre on understanding the full story, asking better questions, and working collaboratively to find a solution.
Homeworking and hybrid models have permanently reshaped earnings. In April 2020, nearly half of UK workers were based at home, with 86% attributing the change to Covid. By early 2023, 28% had adopted a hybrid model, and a third of self-employed workers operated exclusively from home.
These shifts come with financial nuance. While 48% of home-based employees reported reduced spending, only 32% of self-employed workers said the same. For them, lower travel costs were often offset by higher utility bills or workspace investments.
That matters. Two borrowers might look similar on paper but have very different affordability dynamics. For brokers, that makes the upfront fact-find and lender liaison more important than ever.
Change, challenge, opportunity mindset
Against a backdrop of evolving demographics, rising inflation and rate volatility, complexity is now the norm. This has driven innovation across the market meaning brokers have to adapt their mindsets in order to provide solutions for cases and clients. Lenders, such as ourselves, have responded with more flexible criteria and layered underwriting, never loosening standards, but committed to rethinking risk. That’s helped more brokers find solutions for clients who fall outside the scope of standard calculators.
But this isn’t a one-size-fits-all environment. Technology and AI have improved speed and consistency, but in complex cases, the human element is still absolutely critical. You can’t always model nuance, especially when income is variable or multi-sourced.
That’s why we offer access to underwriters who can assess layered affordability, apply discretion, and collaborate with brokers in real time. It’s more important than ever to offer a bespoke range, coupled with specialist expertise.
Story, context, trajectory of the client
Brokers have always needed to think like strategists. Understanding not just a client’s finances but their lifestyle, goals, and targeting long-term financial resilience. Complex cases rarely come with simple answers. Whether it’s non-standard income or a family-boosted deposit, they need both curiosity and flexibility.
Keeping up with market change is also key. Knowing which lenders accept day-rate contractors, retained profits, or holiday let income can make or break a deal. At Bank of Ireland for Intermediaries, we believe upskilling is vital, which is why we’ve invested in tools like Live Chat, underwriting surgeries and upskilling and educational initiatives. These tools don’t just deliver answers, they support brokers in asking better questions and provide value to their client.
Today’s opportunity lies in seeing the bigger picture. Clients are asking for much more than mortgage products, they want clarity and well-delivered outcomes now, and for their future. They want a strategic partner. Delivering those outcomes takes a pragmatic, holistic and collaborative approach that draws on the strengths of all parties: broker, client, lender.
Power in partnerships
Partnership is vital. Especially in complex cases, where policy-based systems may fall short, having access to experienced underwriters who can apply professional judgement makes all the difference. Our nuanced underwriting means no two cases are treated the same. We look at income with a holistic and pragmatic approach and make decisions based on context.
This collaborative approach ought to run throughout any lender's complex lending support, from new build and buy-to-let, to self-employed borrowers and first-time buyers with non-standard profiles. It’s about structuring cases to find solutions.
As the market grows more complex, the broker’s role becomes even more valuable as guide, advocate, and problem-solver. That’s why it’s essential to work with lenders who value your partnership and won’t just work to their process. It’s about understanding the story, context, trajectory and working through the layers to find a way, where possible, to say yes.
