The mutual's intermediary chief on manual underwriting, first-time buyers and what brokers need from lenders
Niche lending and manual underwriting remain at the heart of Suffolk Building Society's intermediary strategy, as borrower circumstances become more complex and once-specialist markets edge towards the mainstream.
The Ipswich-based mutual has built its broker proposition around a handful of areas, including self-build, later life, intergenerational, expat and complex income lending, rather than competing across the whole market. That approach has coincided with a period of growth, with the society's mortgage book rising 10% to £813m in the year to 30 November 2025 and completions up 67% to 857.
Charlotte Grimshaw (pictured top), head of intermediaries at Suffolk Building Society, said broker relationships were central to the society's model, with 93% of its mortgage business coming through intermediaries.
"We don't really want to be everything to everybody," she told Mortgage Introducer. "We've taken quite a stance with our strategy that we do certain things really well, with strong brand awareness. We want to build on that and consolidate our expertise in those areas instead of trying to get more business by doing other areas of lending."
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Why manual underwriting still matters to brokers
Grimshaw said the society's decision to underwrite cases manually, assessing each application individually rather than relying on automated credit scoring, has become more valuable in the wake of the pandemic and the cost-of-living crisis.
"Our lives are more complicated than they've ever been, " she said. “So, our ability to solve problems for these customers is our secret weapon."
She said applications that look unworkable on paper often make sense once an underwriter examines the detail, and that complexity now runs across every part of the society's lending, from income structures to unusual property and adverse credit.
"You're not trying to solve challenge A and B anymore, you're trying to solve challenge A through to F and make it work," she said.
AI and automation are treated as support tools rather than a replacement for that human judgement. Grimshaw said technology could improve the customer journey and take on laborious administrative tasks, freeing underwriters and business development managers to focus on the work they do best.
Protecting a niche as specialist lending goes mainstream
Suffolk is not alone in targeting specialist borrowers, and Grimshaw acknowledged the line between specialist and mainstream lending is shifting. She said relationships and service are what set lenders apart.
"Markets are being diluted," she said. "What was once specialist is now not specialist."
The society has steadily widened its criteria in its core areas, including expanding its lending criteria for self-build and new build flats in 2024. Expat lending is one area where broker relationships have paid off, supported by its move to accept multi-currency income on mortgage applications, and Grimshaw said word of mouth played a significant role.
"Expats are slightly different to other consumers. If they get a good service from a broker they talk in their expat communities and it spreads the message," she said.
Suffolk’s buy-to-let exposure is more limited, as the society does not currently offer limited company or portfolio landlord lending. The first phase of the Renters' Rights Act, which abolished section 21 evictions and moved most private tenancies in England onto periodic agreements, took effect on 1 May. The changes have had less effect on Suffolk's customers than on some fellow members of the Intermediary Mortgage Lenders Association (IMLA), which the society joined as a full member in March 2025.
When asked whether lenders are doing enough to support landlords, Grimshaw said the answer lay in working closely with the advisers who deal with them every day.
“It's about working with brokers who are there to advise their customers, by understanding the new challenges that are being brought with the Renters’ Rights Act. Having those conversations with brokers to understand the real-life impacts and not making assumptions are key”, she said.
Grimshaw added that the same approach helps lenders spot problems and gaps in the market more broadly, not only those linked to the new legislation.
“If we’re talking to the right people, that’s where we can do something pretty quickly and make sure that we’re supporting them,” she said.
First-time buyers and the awareness gap
First-time buyers accounted for 27.3% of gross mortgage advances in the second quarter of this year, the lowest share since the first quarter of 2024, according to the latest mortgage lending statistics from the Financial Conduct Authority.
Rather than launching a standalone first-time buyer range, Suffolk has drawn on its experience with older borrowers and families to support younger buyers through joint borrower sole proprietor (JBSP) mortgages, which allow a family member to join the mortgage without being named on the property's title.
"Because we're really good with older borrowers and families, we serve using that skill set and that criteria that makes us exceptional in that area," Grimshaw said.
The society has also moved on affordability, raising its income multiple to 5.49 times for first-time buyers with a rental track record. Grimshaw said innovation from building societies and banks alike is helping, but that awareness remains the missing piece.
"It comes back to the whole piece that customers need to know that these products exist," she said.
What makes a strong broker relationship in 2026?
Grimshaw believes the lender-broker relationship has to work both ways, with lenders owing brokers transparency about where they can and cannot help.
"It’s about doing what we say we're going to do. That sounds simple, right? But we're human. Just do what we say we're going to do. If we can't do something, explain why we can't do it."
She pointed to past frustrations over products being withdrawn at short notice, which had left advisers working late into the evening and at weekends to secure rates for clients, and said the market has responded.
"In the past, brokers have expressed about their concerns without notice and the fairness of that, and the market has really listened, so I think that's one of the really positive outcomes from that.
"Brokers remain at the heart of our strategy. By continuing to listen, act on feedback and evolve our proposition, we will strengthen the partnerships that drive mutual success. With an exciting pipeline of enhancements and innovation planned, we're looking forward to making 2027 our strongest year yet."
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