The power of certainty

Great products, competitive pricing, flexible criteria and great service are all important to brokers, but there’s one thing they crave above all else, and that’s certainty.


Pete Thomson, Sales & Marketing Director at The Mortgage Lender (TML), shares his thoughts.

When we were in the process of setting up TML we wanted to know what intermediaries wanted from a new lender – which product areas were growing, where were the product and criteria niches, where should our pricing sit, and which gaps had other lenders left in the market that we might exploit?

We canvassed opinion from a range of industry contacts at mortgage clubs, networks, specialist distributors and brokers themselves, and the input we received helped shape the lender we are today. In this process there was one consistent theme that struck us more than any other, which is that brokers would like a lender that gives them certainty.

Certainty meant not only sticking to published underwriting criteria and service standards, but also ensuring that borrowers would actually get the product they applied for. We were told some other lenders often accepted applications in principle on headline rates, but that during the underwriting process the client would typically find themselves cascaded down onto higher rates. This was an understandably emotive point for brokers, so we set out to avoid this practice in our processing.

I’m immensely proud that after 8 months of lending over 98% of offers we have made were issued on the same or better product tier than was applied for following a successful Decision In Principle.

This statistic and several others, not least the fact that 1 in 3 of our borrowers qualifies for our lowest rate (currently 1.95%), led us to the recent decision to create our #ChallengeTML concept.

We’re continuing to challenge brokers to complete a DIP with us and see if we can give their clients a lower rate. Not only are we confident that we could help, you can apply safe in the knowledge that there’s a probability of 98% that they will get their offer on this basis.

If you’ve got an enquiry that doesn’t quite fit the high street, why not #ChallengeTML today and see if we’ve got the best rate for your client.

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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.