The insolvency expert at the Glasgow-based specialist finance broker believed that the raft of new specialist lenders opening their doors north of the border was set to have a material impact on home ownership levels in Scotland.

Peter also thought that brokers would play a crucial role in making prospective borrowers with historical credit issues aware of their increased options.

He highlighted that many of these lenders do not ‘credit score’ in the way that traditional banks do, but instead look at each application on a manual, case-by-case basis.

•   Bridging in Scotland is booming
•   Scottish specialist lending market predicted to double in 2019
•   Your Expert Group arranges £2.5m of specialist finance in August

 “A growing number of specialist lenders are launching in Scotland that are much more accommodating to borrowers who have had credit issues in the past, even as little as 12 months ago.

“They are built on the premise that debt management solutions – such as protected trust deeds – get people into the habit of meeting monthly repayments and sensible budgeting, and so are an important step in their financial rehabilitation.

“Today, with increased lender choice, there is considerably more financial inclusion meaning people emerging from debt management solutions are no longer permanent banking and borrowing outcasts.

“We estimate up to a fifth more Scots could get on to the property ladder in 2019 and brokers will play a key role in ensuring this happens."