The Mortgage Lender completes its first case

The Mortgage Lender has completed its first case nine weeks after launch.

The mortgage, for the purchase of a terraced home in London, completed last Friday and was introduced to The Mortgage Lender through TMA who advised The Independent Mortgage and Loan Company where they would be able to place the case.

The borrowers are a young professional couple working as film producers. They opted for a two-year tracker.

The Independent Mortgage and Loan Company director Tom O’Neill said: “This was never going to be an easy case, but also it only needed grown up experienced underwriting. As film producers, the borrowers had non-standard incomes and a buy to let property in the background. They had previously switched it from repayment to interest only on the advice of their accountant, which resulted in the existing lender downgrading their credit rating.”

“From the start The Mortgage Lender’s underwriting team was accessible, they took a pragmatic, reasonable and rational approach to the case whilst all the time remembering there were two human beings at the centre of this difficult transaction. They spoke to the existing lender, examined the situation and satisfied themselves.”

“If they came across a hurdle they came back to us to ask for more information and kept us and the client informed every step of the way. TML got the mortgage offer out really quickly given the complexity of the case and were mindful the client was at the centre of the process throughout. We were more than impressed.”

The Mortgage Lender sales and marketing director Pete Thomson said: “We are absolutely delighted to have helped an introducer with a particularly complicated case and that we could help borrowers with non-standard incomes move into their new home.

“Our recent reduction in tracker rates combined with our compelling proposition for borrowers who aren’t being served by the High Street is proving popular with introducers.”

“We have a large number of applications that have reached offer and expect completions to ramp up over the coming weeks as we move from the initial launch stage to business as usual.”

The Mortgage Lender is a specialist intermediary only mortgage lender that caters for standard status borrowers who aren’t currently being served by High Street lenders, the self-employed and lending into retirement.

Mortgages are available up to 85 per cent loan to value with a two-year tracker that starts at 1.98 per cent, or as a two or five-year fix with rates as low as 2.41 per cent. The products can be accessed through networks, mortgage clubs and specialist distributors.

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The Mortgage Lender Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Firm Reference Number 707058). Registered in England & Wales as company number 9280057. Registered office address: Fifth Floor, 100 Victoria Street, Bristol BS1 6HZ.