The Mortgage Lender (TML) is marking its one-year anniversary with a £250 increase in procuration fees for applications received on selected products through its distribution partners between 1 June and 31 August 2017.
Pete Thomson (pictured), TML’s sales and marketing director, said: “In July it will be a year since we launched as an intermediary-only lender, which is a proud moment for everyone involved with TML.
“In recognition of this milestone we will be paying an additional £250 procuration fee on selected products over the summer months as a thank you to those who have supported us over the last year.
“Over recent months we’ve been asking brokers and distribution partners to #ChallengeTML to offer their clients a better deal or to do things differently. We’ve had a great response to our challenge and we have seen applications increase. We have also made a number of enhancements to our administration processes as a result of the feedback we’ve received.”
TML’s underwriting enables customers who don’t quite fit High Street lending criteria, including the self-employed, contractors and borrowers with an imperfect credit history, to secure a competitively priced mortgage.
It offers rates from 1.95%, with one in three borrowers qualifying for its lowest rate. Over 98% of offers made by TML since its launch have been on the same, or better, rate than the one quoted on a successful Decision In Principle, it claims.