No more cascading from The Mortgage Lender  - 21/02/2018 09:17
Exciting news from The Mortgage Lender today! They have some fantastic criteria changes meaning they may be a suitable option for even more clients! There is more certainty now allowing easy identification of the product an applicant will qualify for, based on their credit criteria. 

  • Removal of cascade - if the applicant fits the criteria of TML1, TML2, or TML 3 this is where they will fit. There is no cascading based on credit score.
  • Accepting defaults on unsecured lending – acceptable on TML2 at 85% LTV rather than 75% on the old products
  • Unsecured arrears – up to worst status 4 on TML2 and worst status 6 on TML3
  • CCJs – now up to £1000 in TML2 at 85% rather than £500 on the old products
  • Fixed Rates – the highest rate now payable is 5.49% 5 year fixed rather than 7.26% 5 year fixed on old products
  • First time buyer up to 85% LTV
  • New build up to 85% LTV - they will also consider a maximum 5% builder gifted deposit/incentive up to 85% LTV.  New build offers valid for up to 6 months
  • Increased maximum loan amounts - TML can now consider applications for loans up to £600k at 85% LTV, £750k at 80% LTV, and £1 million up to 75% LTV
Give TFC Homeloans a call now on 0161 694 7900 or drop us a DIP on our 1APP system.
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