“We don’t have a minimum beacon score,” Kyprianou assured. “We don’t have tedious requirements. We’ll take self-declared letters. The only thing that we care about is the property, its value.”

Non-bank lenders also have sufficient elbow room to allow clear exit strategies for troubled borrowers, Kyprianou said.

“Somebody may have had some challenges in their life,” Kyprianou said. “Their credit’s a bit soft. They may be able they make a decent living, but they can’t prove it… It’s because people have people have things in priority. They deal with us.”

In general, “people have good incomes,” Kyprianou observed. “Good credit, good everything. It’s just that they’re just missing the mark on the gross debt service/total debt service qualifications because of stress testing. So our quality of borrower has been increasing quite substantially this year, which has been great for us.”

For more insights from the non-bank lending sector, click here.