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
The Mortgage lender – Complex Income: App to Offer in 5 days
With our research showing that 38% of UK adults missed a bill payment last year* and more borrowers juggling multiple income streams, complex cases are becoming the new normal.
Here’s how we helped one client:
· Sole applicant buying a £157,000 property at 75% LTV
· Income combined from salary, commission, and Child Benefit
· Credit profile included recent payday loan, missed payments on credit cards and mail orders
By leveraging technology and data, we were able to verify income without the need for physical documents, and the case passed an AVM – helping to speed up the process. Thanks to the broker’s prompt upload of supporting documents, our underwriter was able to issue an offer within 5 working days.
In a market where 87% of borrowers with impaired credit rely on unsecured lending, this case shows the difference brokers like you can make.
If you’re working with clients who have complex income or impaired credit, our team is ready to help.