Is your hiring strategy aligned with the new market reality? That is the question many lending firms should be asking. While interest rates have eased slightly, expectations for significant cuts have been tempered. Inflation remains higher than forecast, with recent figures highlighting ongoing pressure on essentials such as food. Part of this is driven by higher input costs, including the rise in employer National Insurance contributions. These dynamics are shaping borrower behaviour, credit risk, and ultimately, how lenders build and resource their underwriting functions.

Many organisational charts, however, still reflect assumptions that no longer apply. Teams built for a low-rate, high-volume market may now be out of sync with the direction of the business. Some firms are still structured for speed and throughput, when the market now demands precision and control. Product strategies are being reassessed, but hiring plans have not always moved at the same pace. The question is no longer just how to hire underwriters. It is whether the structure and skill set of the underwriting function remain fit for purpose.

Strong underwriters continue to be in demand across the lending sector. From asset finance to residential mortgages, from bridging to car finance, firms are looking for individuals who can make sound decisions in a more nuanced and competitive market. Technical competence has always been important. Now, there is increasing emphasis on commercial awareness and adaptability. Lenders want underwriters who can interpret new risk signals and help shape the firm’s response, not simply process cases.

Affordability assessments, especially in non-standard lending, are becoming more complex. Borrowers face new pressures on household budgets and a growing divergence in financial resilience. Underwriters are often the first to see the shift. They must apply judgement in cases where automated criteria fall short, and where risk sits in the grey areas. This requires experience, confidence, and a strong understanding of both the market and the firm’s credit appetite.

Firms should also be asking whether their current structure reflects the skills and resource mix needed for the future. Are senior underwriters deployed in the right places? Is there adequate support for junior team members? Are succession plans in place? Many firms carry legacy structures that reflect the last rate cycle rather than the next. Those that get ahead of this shift are likely to build stronger, more responsive underwriting teams.

At the same time, the supply of experienced underwriters remains limited. The best candidates are often not active in the market. Mid-level and senior hires require time, care, and a relationship-led approach. Specialist search support is often required, particularly where cultural fit, commercial sensitivity, or market nuance play a significant role. Posting a job and waiting rarely delivers the calibre of underwriter that lenders now require.

It is also important to consider how your firm presents itself to potential hires. Underwriters want to know they are joining a business that values their function. They want clarity on how decisions are made, how credit policy is managed, and how the business intends to grow. A well-run process, with clear expectations and consistent communication, says as much about the firm as the job description itself. Delays, vague messaging, or overly cautious timelines can signal a lack of alignment internally. Top-tier candidates will often move on quickly if they sense indecision.

This is also the right moment to revisit medium-term hiring needs. Has your headcount plan been updated to reflect current and expected loan volumes? Are you building a team that can adapt to changing risk thresholds, product development, and regulatory expectations? Hiring underwriters is not just about filling gaps. It is about building resilience, improving decision-making, and preparing the business for the next phase of the credit cycle.

The lending landscape has changed. Margins are tighter. Risk is more complex. Speed still matters, but accuracy and alignment now define success. In this context, knowing how to hire underwriters has become a strategic concern. Firms that plan ahead, hire thoughtfully, and invest in the right people will be better placed not only to manage current challenges but to seize the opportunities that follow.