What does ‘whole of market’ mean?
A whole-of-market broker can choose from across the lending market, rather than a single lender (tied) or a limited list (panel). For contractors, that breadth is what makes it possible to reach the specialist lenders who assess contract income properly.
The three types of adviser
- Tied — can only offer one lender’s products (for example, a bank branch).
- Panel / multi-tied — limited to a set list of lenders.
- Whole of market — can select from across the available market to find the most suitable lender and product.
Why it matters for contractors
Contractor lending lives in the specialist corners of the market — lenders with contract-based criteria, retained-profit policies or CIS gross-up. A tied or narrow-panel adviser may simply not have access to them, leaving you with a decline or a low offer. Whole-of-market access is what lets the right lender be found at all.
It also means the recommendation is driven by suitability rather than by which single lender happens to be available.
Whole of market vs ‘independent’
The terms overlap but aren’t identical. What matters in practice is the breadth of lender access and that advice is based on your circumstances. We’re a whole-of-market, directly authorised firm.
- Tied = one lender; panel = a list; whole of market = the broad market.
- Specialist contractor lenders often sit outside narrow panels.
- Breadth of access directly affects whether you’re approved — and your rate.
- Ask any adviser how many lenders they can actually place with.
Choosing an adviser, answered
Is whole of market always cheaper?+
Not automatically, but it gives the best chance of the right outcome — especially for non-standard income, where the cheapest mainstream rate may be unavailable to you and a specialist lender is needed.
How do I check an adviser’s access?+
Ask directly whether they’re tied, panel or whole of market, and how they’re authorised. A whole-of-market, directly authorised firm can place across the market.
Does whole of market include every single lender?+
No adviser literally accesses every product (some lenders are direct-only), but a whole-of-market broker draws from across the available intermediary market rather than a narrow list.