TMO has announced that it is cutting submission fees for all sub prime packaged mortgage applications to 69.
This offer is available for all sub prime products across its lender panel between now and the end of 2005.
Alex Forrester, managing director of TMO, says: Our job is to help our clients to make more money by offering the best service at a very competitive price.
“At a time when the market has clearly been softening, we continue to see our business growing. The trust placed in us by our clients is the best advertisement for the quality of our service.
“We recognise that the borrowers in the sub-prime market need to reduce their “in-cost” and we think that reducing our sub-prime submission fees is the best way to help them do that.”
Jon Haynes, TMO product development manager, says: “We have seen a significant shift towards sub prime lending in our business mix over the last few months.
“Our reputation in the sub prime sector has been achieved through the expertise of our new business team and our enhanced service proposition.
“These increased volumes of higher margin business have enabled us to improve client benefits for brokers in the form of reduced submission fees.”