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Challenge TML – how are we doing?

Posted Friday 28th of April 2017

In March we launched the #ChallengeTML campaign, when we invited mortgage brokers to challenge us to find a better deal for their client than they can get from other lenders.

1 in 3 of our borrowers qualifies for a rate under 2%, so we felt well placed to issue this challenge!

We wanted to share some examples of mortgage applications we have accepted:

Film producers with complex income

  • Joint application, where the applicants had unusual employment and sporadic income. They were also both using supplementary income which was evidenced using an Accountant’s Certificate.

Vlogger with variable income

  • An entrepreneurial vlogger in their early 20s with nearly 10 million hits on their vlog. Our personal approach to underwriting meant we were able to accept the unusual income profile that comes with this line of work.

Joint applicant with previous IVA

  • Joint application where applicant 1 was self employed and their annual income had increased by £10k year on year; they also previously had an IVA. Applicant 2 was on maternity leave, returning to work in the next 3 months and had confirmation of this from her employer. We used applicant 1’s most recent year’s self employed income figure and included applicant 2’s future income.

Self employed with 400% business growth in last year

  • We had a customer who was self employed and their business had experienced significant revenue growth in the most recent year. Our affordability model enabled us to use the most recent year’s figures to calculate affordability and the amount we would lend.

Joint applicants both retaining their existing mortgages

  • Two applicants each with their own mortgages: Applicant 1’s mortgage was joint with his mother and Applicant 2’s mortgage was to remain as a buy to let. We agreed applicant 1’s mortgage didn’t need to be redeemed and allowed Applicant 2’s mortgage to remain as a BTL.

Self employed applicants with a tight deadline

  • Joint applicants with a deadline to complete within 4 weeks. Complex self employed income derived from a group of companies, with a property set in a large plot that exceeded TML’s standard maximum of 3 acres. TML accepted the challenge!

Are you ready to Challenge TML? If so, we’re waiting to hear from you! Please get in touch and talk to us about your client requirements – we’ll take the challenge to beat what you think they can be offered by other lenders.

If you’re in need of a tight turnaround, not to worry, as we’re currently working on new applications the day after they are received.

But don’t just take our word for it, here’s what Rachel French of Residential Home Loans emailed us to say:

“Just wanted to say a huge thank you for all your help on this case, I can’t believe you managed to get this case offered within 8 days of submission……particularly in light of its complexities!!”

Contact us today and Challenge TML to help your client get the best deal.



By Gillian McAllister , of The Mortgage Lender

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