Innovation and flexibility are rightly central to many lenders’ products and services — after all, specialist finance exists, in part at least, to support those ill-suited to or turned away from mainstream finance.

But the industry’s desire to help extends beyond lending to people with adverse credit or needing a bridging facility.

Reading the trade press and glancing through social media, there seems to be a growing sense of purpose within the sector, exemplified by lenders, brokers and networks either creating or supporting charitable endeavours.

As we enter the festive season, now feels like an opportune moment to reflect on the good being done within the industry.

What’s more, it is also a good time to consider what more can be done.

Charity comes to the fore

September through to December is the busiest time of the year for specialist finance industry events. 

Conferences, networking meet-ups, awards and dinners — each week there are numerous events taking place, and there is increasingly a charitable focus to these occasions. 

For instance, the specialist finance industry raised a record-breaking £18,836 for the Spread a Smile charity the B&C Awards 2023 in September.

But it’s not only industry-specific events.

Market Financial Solutions (MFS) was proud to be a sponsor of the Children With Cancer annual Fundraising Gala last month – a wonderful charity that recently announced a partnership with Spread a Smile, and one that we have supported over several years.

Go Beyond, the children’s charity, is another brilliant cause that MFS has thrown its weight behind this year.

I would also like to take this opportunity to shine a light on two other extremely worthy organisations.

The first is Richard House, London’s first ever children’s hospice.

Donations and volunteering can make such a difference to their community of children, parents and care givers, so it would be remiss of me to not highlight Richard House as a cause that others across the specialist finance industry may wish to support. 

The second is Pratham, an innovative learning organisation created to improve the quality of education in India, particularly for girls.

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There is a strong link between Indians and people of Indian heritage and the UK’s specialist finance sector, so this will be a charity many may also wish to support. 

Inspiring each other

In my view, good deeds beget good deeds.

So, it has been inspiring to see other brilliant examples of charitable endeavours from across the specialist finance sector, such as that set by Mortgage Advice Bureau (MAB).

MAB set up a registered charity, the Mortgage Advice Bureau Foundation, in 2022.

The foundation issues grants of up to £5,000 to community-based projects across the UK and it is on a mission to provide £1 million of grants over a five-year period, primarily focused on three areas: health and wellbeing, combating the effects of climate change, and tackling poverty. 

MAB itself drives much of the funding for the foundation, but it also calls upon its networks of lenders and advisors to support its efforts.

It is wonderful seeing the breadth of charitable activities taking place across the UK’s specialist finance industry.

I was confused to see members of the MFS team recently doing push-ups in the office — but it transpired they were taking part in Loans Warehouse’s initiative in November, in which they were doing 100 push-ups every day to support Macmillan Cancer Support and calling on others to join them.

Another great example of campaigns that can inspire others and raise funds for hugely important charities and causes.

Investing in a more progressive, equitable industry

I noted earlier that the specialist finance sector is concentrating more and more on ‘purpose’.

It is a word that has entered the daily lexicon of businesses globally — the entirely correct belief that companies must strive to do more than just make a profit; they must also strive to make a positive impact on the world around them. 

This extends beyond charity, too.

It has been positive to witness an increased focus on the ways in which we can improve standards and education across the specialist finance industry.

The development of the Certified Practitioner in Specialist Property Finance (CPSP) education programme, which I was proud to play a foundational role in, is one such important breakthrough we have made this year. 

Ultimately, these are all signs that the specialist finance industry is maturing, and it is heartening to see the sector embracing purpose and looking at the bigger picture. 

At times, we have to move beyond discussing products and rates to instead shine a light on the good being done in the sector.

Further, it is important we share ideas of novel, interesting and impactful ways that specialist finance sector can make a difference.

Long may it continue.