The Mortgage Lender (TML): Real Life Lending for Intermediaries
The Mortgage Lender (TML) is a leading UK-based financial services provider known for its unique approach to lending, specifically designed to help those who don’t fit the traditional high street lender’s criteria. TML operates on the principle of Real Life Lending, focusing on delivering flexible and tailored mortgage solutions to individuals and businesses with complex financial situations. This article will explore TML’s services, its approach to intermediaries, and how brokers can benefit from partnering with this innovative lender.
Understanding The Mortgage Lender (TML)
Founded in 2015, The Mortgage Lender (TML) has quickly established itself as a prominent player in the UK mortgage market. Headquartered in Glasgow, Scotland, TML has grown into a company with between 201-500 employees, offering a wide range of mortgage products to suit various borrower profiles, particularly those who might struggle to secure funding from traditional lenders.
TML operates under the guidance of the Financial Conduct Authority (FCA), with its firm reference number 707058, ensuring that all products comply with UK financial regulations. However, their Buy-to-Let mortgages are not regulated by the FCA, which offers more flexibility for investors and landlords.
The core mission of TML is straightforward: Real Life Lending. This philosophy drives the company’s commitment to offering solutions for individuals whose financial situations don’t necessarily conform to mainstream lending criteria. Whether it’s a self-employed individual, a contractor, or someone with a non-standard income, TML aims to provide accessible lending options that consider the complexity of real life.
TML’s Approach to Real Life Lending
One of the key differentiators of The Mortgage Lender (TML) is its commitment to finding solutions for people who may otherwise be overlooked by traditional lenders. This is particularly beneficial for intermediaries working with clients who have more complex financial profiles. TML’s approach includes:
1. Self-Employed and Contractors
Self-employed individuals often face challenges when applying for mortgages, as many lenders require a stable, full-time employment history. TML takes a different approach by considering a self-employed applicant’s tax returns, often including recent figures even if there have been fluctuations due to COVID-19 or other external factors. For contractors, TML is flexible and may recognise those working on a contract basis as being employed, which broadens lending opportunities for this group.
2. Complex Income Situations
TML understands that income is not always straightforward. In addition to basic salary, many applicants may have income from overtime, bonuses, commissions, or even second jobs. TML allows for these income streams to be included in affordability assessments, increasing the chance of approval for clients who would typically be excluded from traditional mortgage products.
3. Impaired Credit
Another area where TML excels is in lending to individuals with impaired credit histories. Whether an applicant has had past issues with arrears, CCJs (County Court Judgments), defaults, or even an IVA (Individual Voluntary Arrangement) or bankruptcy, TML is willing to consider applications from people who have made efforts to maintain a clean credit history post-difficulty. Typically, TML requires that these issues occurred at least two to three years ago, offering a lifeline for individuals who are trying to rebuild their financial standing.
4. Buy-to-Let Mortgages
For intermediaries working with property investors, TML offers a competitive range of Buy-to-Let (BTL) mortgages. The company has recently lowered rates across a selection of BTL products, making it easier for landlords to secure affordable financing for property investments. Their BTL offerings include flexible terms and options that cater to portfolio landlords and those investing in HMOs (House in Multiple Occupation), which is ideal for brokers who manage more complex cases.
TML for Intermediaries: A Valuable Partnership
For mortgage brokers and intermediaries, partnering with TML opens up a host of opportunities. As TML operates exclusively through brokers, this creates a crucial channel for those looking to offer clients alternative lending options that might not be available through traditional lenders. Here’s why intermediaries should consider working with TML:
Access to a Wide Range of Products
TML offers a diverse range of mortgage products, from residential to Buy-to-Let, designed to accommodate a wide variety of client needs. By working with TML, intermediaries can offer more tailored solutions to their clients, particularly those with complex financial situations.
Flexibility and Support
TML’s approach to lending is rooted in flexibility. This flexibility translates to better support for intermediaries when dealing with complex cases. The company offers direct access to underwriters and business development managers (BDMs), ensuring that brokers can resolve issues quickly and effectively. Additionally, TML provides brokers with resources such as affordability calculators and lending criteria guides to simplify the process of placing a case.
Competitive Rates
In a competitive mortgage market, interest rates play a significant role in securing clients. TML has a reputation for offering competitive rates across various product types, including Buy-to-Let and residential mortgages. Recently, the company has reduced rates on certain BTL products, which gives brokers access to better deals that can benefit their clients.
Seamless Application Process
The application process with TML is designed to be straightforward, with easy-to-use tools and support available at every stage. From initial contact to underwriting and final approval, intermediaries are supported throughout the journey, making the experience smoother for both the broker and the client.
Strong Reputation and Trust
TML’s reputation in the industry is built on its dedication to finding lending solutions for those in non-standard financial situations. By aligning with TML, brokers can enhance their own reputation by offering solutions that are outside the scope of what traditional lenders might consider.
How Intermediaries Can Get Started with TML
If you’re a mortgage broker or intermediary looking to partner with TML, the process is simple. You can begin by registering through their intermediary portal. Once registered and approved, you will gain access to the full suite of TML’s products and services, including direct access to the underwriting team and business development managers.
Additionally, TML’s website provides a range of resources, including guides, calculators, and a comprehensive FAQ section to help intermediaries better understand the company’s lending criteria and how to support their clients effectively.
For more information, visit the Official Website and register today to get started.
Why TML Stands Out in the Mortgage Market
TML stands out for its unique approach to lending, focusing on Real Life Lending. By recognizing that not all clients fit into the neat boxes often required by traditional lenders, TML ensures that individuals with complex financial situations can still access competitive mortgage products. Whether you’re an intermediary helping a self-employed individual or working with a contractor or investor, TML provides the tools and support you need to find the right solutions.
The Mortgage Lender (TML) represents an innovative shift in the mortgage lending market, offering brokers an opportunity to provide their clients with flexible, tailored, and accessible lending solutions. By embracing the complexities of real life, TML ensures that more people can achieve their homeownership and investment goals.
In conclusion, working with TML can provide intermediaries with a competitive edge in the mortgage market. By partnering with a lender who understands and adapts to the needs of real people, brokers can offer more flexible solutions to their clients.
