From niche to necessity: Unpacking the rise of specialist lending

Q. Specialist lending is sometimes associated with distressed or creditimpaired borrowers. Is this still the case today? What are you seeing from borrowers?

Belinda Wright (BW):

Far from it, adverse credit lending only forms a small part of a much wider specialist lending universe. In saying that, every deal is different. At Thinktank, we believe specialist lending is no longer a niche concept – it’s an essential part of the market – and we’re designed from the ground up to deliver clarity, confidence, and the right level of support when it comes to the more complex scenarios.

For us, specialist lending means supporting borrowers who may test traditional credit settings, without adding unnecessary complexity for brokers or their clients. Typical specialist lending clients include selfemployed borrowers, company and trust structures, and those requiring flexible income and servicing assessment consideration.

As banks arbitrarily adjust risk appetite, more borrowers are turning to specialist lenders who are best placed to take a more practical, contextual view of financial circumstances and strategies. We work exclusively with brokers across commercial, residential, SMSF, and private lending, and we take a very informed, scenarioled approach to credit and risk assessment.

Q. Trust lending can be intimidating for some brokers – why is it such an important area?

Joel Harrison (JH):

Trust lending is foundational to Australian wealth management structures, so brokers need lenders who genuinely understand how trusts operate in all their forms. Trusts play a central role in asset protection, tax planning, retirement, and intergenerational wealth strategies for SMEs, investors, and family groups.

Because trust structures underpin a significant portion of Australian property investment, demand for trustsavvy lenders continues to expand. At Thinktank, we support a broad range of trust structures, including family, discretionary, unit, hybrid, and bare trusts used in SMSF borrowing.

Trust lending spans our commercial, residential, SMSF, and private lending products, which allows brokers to structure solutions across multiple client needs.

Q. How is Thinktank approaching digital innovation?

Belinda Wright (BW):

For us, digital innovation is rally about how we can best support brokers, particularly in the commercial space. For example, some commercial brokers don’t have access to ApplyOnline, so we’re focused on how we can still meet them digitally. That includes things like aggregator integration, and we also have our own digital form coming.

Our view is that digitisation should remove friction – not remove the human element – especially in commercial and specialist lending. We want brokers to continue receiving fast responses, transparent communication, and experienced, commonsense decision making. The goal isn’t automation for its own sake – it’s about helping brokers spend less time on process and more time adding value for their clients.

Joel Harrison (JH):

It’s the way of the future. The other part of this is how brokers themselves can use technology to become more efficient in their businesses. We’ve been to a few roundtables where commercial brokers are now building technology inhouse, now frequently incorporating AI, to prepare credit papers and loan analysis. What used to take half a day – or even a full day – can now be done in around 30 minutes. The future is looking very bright, particularly on the commercial side, and those who lean into this early will be well ahead of the game.

Q. Why have you remained a brokeronly lender for over 20 years? And why is that partnership model so central to Thinktank’s success?

Belinda Wright (BW):

Thinktank was built entirely around strong, genuine, and exclusive aggregator and broker partnerships, and that hasn’t changed as the business has grown. From the very beginning, we made a deliberate decision not to compete with brokers because our success depends on their success.

That alignment builds trust, and ultimately that depth of partnership is why the model works. Brokers know we’re on their side, invested in their growth, and committed to supporting them as lending becomes more complex – not less.

Joel Harrison (JH):

We often talk about having two customers at Thinktank – our broker partners and the end borrower. When I first started, we had three products – today, we have many more, and that has come directly from broker and borrower feedback. Ultimately, we’re backing brokers in a big way. We believe they’ll continue to play a critical role as trusted advisers, particularly as more complex and interesting finance scenarios come across their desks.

Q. What has helped Thinktank stand out, particularly in commercial lending?

Belinda Wright (BW):
We were a commercial lender long before we were a residential lender – residential lending is only about six years old for us. Commercial lending is part of our DNA, and we have deep experience in that space. Some of our tenure reflects that – our longestserving BDM has been with Thinktank for 20 years.

When residential brokers want to step into commercial lending, they need people who truly understand that landscape. Having a dedicated commercial team, led by Joel, has really helped us differentiate and deliver deeper support in that space.

Joel Harrison (JH):
Speed, simplicity, and support are central to the Thinktank model, and we maintain a continuous pipeline of investment in process and digital enhancements to make brokers’ lives easier. Inherent trust is earned through consistent service and reliable outcomes – not just competitive pricing – and brokers increasingly place value on certainty in complex deals. Our recent expansion into private lending and larger commercial loan sizes has been driven directly by broker feedback, which reflects how the broker market itself has evolved