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Mortgage lender launches after securing funding

Mortgage lender launches after securing funding

The Mortgage Lender (TML) has officially launched after acquiring funding for its portfolio..

The specialist intermediary-only lender began receiving broker registrations on 11th July 2016. Its products will accommodate the borrowing needs of the self-employed, retirees, standard status borrowers and those who don’t fit the high street criteria, but still represent good borrowers.

The product range will be available up to 85% LTV with a two-year tracker that starts at 2.18% or as two- or five-year fix with rates as low as 2.41%. The range will be available through various networks, mortgage clubs and specialist distributors.

In preparation for the launch, TML announced the appointment of three account managers and a relocation to an operational base in Glasgow’s International Financial Services District.

TML chief executive Trevor Pothecary said: “I’m delighted we’ll be accepting applications … and look forward to confirming our first mortgage offer and completing the first case.

“It’s taken a lot of hard work and dedication from the management team for us to launch a new lender from scratch. I want to thank everyone who has been involved at The Mortgage Lender and the introducers who have welcomed us to the market and supported us so far.”

This news follows reports that UK Mortgages Limited will be investing in TML’s mortgage portfolio. The initial investment will allow the purchase of £250m of mortgage loans over a 12- to 14-month period. 

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