There are around 900 lenders in the UK covering an wide variety of finance options, according to alternative sourcing system Pitch 4 Finance.
In the mortgage market alone, there are 340 regulated mortgage lenders and administrators which provide their lending data to the FCA every quarter.
However, there is also a number of lenders operating in the bridging, commercial and business loans sectors who are unregulated. They are made up of UK and international private banks as well as foreign banks and financial services companies.
Pitch 4 Finance, which is a packaging and sourcing system for alternative property and business finance, has built up a database of more than 190 lenders. It consists not only of alternative lenders but also mainstream banks and building societies.
In addition, Pitch 4 Finance has access to a larger lending directory which opens up more even options for borrowers and brokers.
Miranda Khadr (pictured), CEO and founder of Pitch 4 Finance, said: “We are used to dealing with difficult to place cases and our database of 190 lenders is usually enough to find a solution. But having access to lenders who are not on anyone’s database is extremely useful. We can offer access to these lenders via our Pitch4 Research facility on our website.
“Some lenders do not want to be on sourcing systems often because their clients are High Net Worths. They operate on their reputation and word of mouth but if they specialise in certain areas these lenders may be willing to look at new cases.
“Our knowledge and experience within the alternative lending market means we know the quirks and risk appetites of many niche lenders and they are just a phone call away. This puts us in an excellent position to help our clients.”
Pitch 4 Finance is constantly building its lender contacts for criteria, rate and product sourcing and will soon have 200 lenders on its database, it says.