In This Article
Who is The Mortgage Lender?
The Mortgage Lender (TML) is a challenger bank in the UK mortgage market, providing borrowers with an alternative to the High Street.
TML is an intermediary-only lender founded by an experienced and proven team with a successful track record of growth in a regulated environment.
Their approach is lending for real life. They don’t see themselves as ‘specialists’ because this approach is just lending. And there’s nothing ‘special’ about real life. It can be challenging, unpredictable and full of obstacles. But it’s also full of hope, ambition and potential.
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The Mortgage Lender offers real-life lending.
The mortgage lender doesn’t believe in a one-size-fits-all approach to lending.
Their team aim to provide real solutions to real problems. They offer bespoke underwriting and products and cater for a wide range of borrowers, including:
• Employed
• Self-employed or contract workers
• Lending into retirement
• Those with an imperfect credit history
TML can accept applications from self-employed individuals after one year of trading and can also take certified accounts, SA302s, or tax calculations with corresponding overviews as proof of income. So if your income is a little more complex than a standard salary, TML could be considered.
Purchases or remortgages for contractors may be considered even if they have only been contracting for a short period.
The Mortgage Lender can even consider lending into retirement, up to age 80, as long as the retirement income supports the lending requested.
If you have a less-than-perfect credit history, The mortgage lender can still recognise a blip for what it is. So, where other lenders and banks might say no, TML could look at the whole picture and possibly say yes instead. However, you should get your mortgage advisor to confirm this.
The Mortgage Lender rates
The Mortgage Lender could be considered if you’re looking for a mortgage and don’t fit the criteria of the high street banks.
TML offers a range of products for those who do not fit the mould of the high street banks. Therefore, their pricing is generally higher.
However, like any mortgage, it’s important to compare interest rates, fees and the quality of the lender’s service before making a decision.
A low credit score will also impact the interest rate you’re offered.
Be sure to review the loan’s terms and conditions carefully before deciding.
The Mortgage Lender only offers its products via mortgage intermediaries. Therefore, if you are considering a mortgage with them, speak to a mortgage advisor who can help you compare your options.
Am I able to remortgage with The Mortgage Lender?
You will need to speak to The Mortgage Lender if you are already a customer to check if you are eligible for a product transfer.
As The Mortgage Lender offers mortgages to underserved customers whom mainstream lenders and their rates have let down are generally higher, you should investigate if you can remortgage to a more competitive rate.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with your current lender.
Are The Mortgage Lender a quick company?
The Mortgage Lender’s average time from application to offer is around four weeks. However, this duration may be extended for more complicated deals, for example, due to bad credit, a non-standard property type, or generally more complex cases.
What happens if The Mortgage Lender declines me?
If you’ve been declined a mortgage from The Mortgage Lender, a mortgage advisor could help you find a lender willing to give you a mortgage. The Mortgage Lender offers a relaxed approach to those that do not have a perfect credit report. However, other lenders could still help you.
A mortgage advisor may be able to help you find a lender, whatever your financial situation. If you want more details about your credit history, you can go to Check My File to sign up for a free trial.
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Conclusion
The Mortgage Lender (TML) is a challenger bank in the UK mortgage market, providing borrowers with an alternative to the High Street lending.
TML is an intermediary-only lender, therefore their mortgage products can only be accessed via mortgage brokers.
Their approach is ‘lending for real life’, and they don’t see themselves as ‘specialists’ because this approach is just lending.
There’s nothing ‘special’ about real life. It can be challenging, unpredictable and full of obstacles. But it’s also full of hope, ambition and potential.
TML doesn’t believe in a one-size-fits-all approach to lending and can help many customers whether they are employed, self-employed, contract workers, need the loan into retirement or have an imperfect credit history.
The Mortgage Lender could be considered if you’re looking for a mortgage and don’t fit the criteria of the high street banks. The Mortgage Lender offers a range of products for those who do not include the mould of the high street banks. Therefore their pricing is generally higher.
The Mortgage Lender’s average time from application to offer is around four weeks. However, this duration may be extended for more complicated deals.
If you’ve been declined a mortgage from The Mortgage Lender, a mortgage advisor could still help you.
Should you want to speak to a mortgage advisor, please complete the contact box below, and I NEED ADVICE will match you with a mortgage broker who can review the whole market and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
