TML simplifies the resi offer; scrap underwriting cascade


The mortgage lender (TML) reduced the number of tiers for its residential products to four and removed its underwriting cascade for potential borrowers with unsecured arrears.

According to the lender, this will make it easier for brokers to place cases for customers with credit issues.

In the residential range, up to 75% LTV, rates now start at 2.79%.

In addition, TML’s limited-distribution “Lumi” line, which was designed for borrowers with credit profiles with a history of events such as payday loans, individual discharged voluntary arrangements and bankruptcy, features three levels, with rates starting at 4.25% for a rate of 75%. LTV product.

TML’s Director of Sales and Products, Steve Griffiths, says, “Removing the cascading approach to unsecured arrears means we will be able to offer lower rates and higher LTVs for customers with an unsecured arrears credit profile, as well as working more closely with our specialized distribution partners. for more complex adverse credit scenarios.

“By simplifying our residential lending approach, we’re addressing what our brokers say is important to them, decision speed and certainty, while providing more options for borrowers who don’t quite fit the lending criteria of Street.

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