TML has announced a market update, see below. The TML range of products are available through our direct to lender mortgage club and our fees free packager. Contact us to see how you can benefit from our club or packaged support.
View their latest product and criteria here.
Announcement
From Directors to Drag Artists, we’ve got you
When you’re self-employed, your circumstances don’t always fit into neat boxes. And, many high street lenders still see everyone from drag artists like Donny to company directors, as high-risk cases, instead of real life people.
In one example from last year, working with EHF mortgages we were able to progress a self-employed residential mortgage application in just 10 days by assessing the couple’s affordability on their net profits before tax.
Our case study subjects were Limited Company directors, and what would have been a straightforward case became a little more complex due to a change in company structure part way through the process. Our approach meant that we were able to deliver the right level of financing for EHF’s client.
Read more about the case study here: https://www.themortgagelender.com/content-hub/case-studies/above-and-beyond-to-save-self-employed-mortgage-applicant-thousands-on-mortgage-deal?utm_source=Weekly+content&utm_medium=Email&utm_campaign=Unleash+the+Niche+Affordability&utm_id=National+Accounts
Our approach to Affordability is different:
- We look at profit before tax, giving a greater capacity to lend
- We consider overtime, employment bonus, commission, car allowance and regional allowance up to 100%*
- We assess up to 100% of second job income*
If you need specialist lending support for your clients find out more: https://www.themortgagelender.com/unleash-the-niche?utm_source=Weekly+content&utm_medium=Email&utm_campaign=Unleash+the+Niche+Affordability&utm_id=National+Accounts
*Please refer to our criteria guide for more information.