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The Mortgage Lender eyes buy-to-let expansion

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The Mortgage Lender is set to expand beyond owner-occupier loans and into buy-to-let in Q3 this year.

The firm is headed by former Mortgages PLC chief executive Trevor Pothecary and launched last year into the residential mortgage market.

But TML sales and marketing director Pete Thomson tells Mortgage Strategy that the firm is nearly ready to expand.

He says: “While we have been busying ourselves with owner-occupier, we have been developing our buy-to-let proposition.

We intend to launch a proposition in Q3. We are building our platform, sorting out the funding, setting out our criteria. All the pieces of the jigsaw are being put in place.”

Thomson says the buy-to-let arm would operate under the TML name and only distribute through brokers.

He adds: “We have built a strong distribution network and that can only help when we launch into buy-to-let. Our service now is second to none.”

TML will consider moving into second charge and bridging once it has established its buy-to-let arm.

Thomson says that TML has had a busy year since launch.

He adds: “It’s been extremely rewarding but extremely tough. Gaining traction was tough, but we have done it. We have had huge support from some of our partners.”

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