The Mortgage Lender to open next week

Trevor Pothecary edited

The Mortgage Lender will officially open for business next week.

The broker-only lender will accept broker registrations, decision in principle requests and processing applications on its website from 11 July.

The Mortgage Lender will offer mortgages to the self-employed, older borrowers and those with poor credit, as well as more mainstream borrowers.

The products are available up to 85 per cent LTV with a two-year tracker that starts at 2.18 per cent, or as a two or five-year fix from as 2.41 per cent.

Brokers signing up on the lender’s website can request decisions in principle and submit applications, as well as keep track of their cases, upload supporting documentation and download additional information requests.

Applications to register will be accepted from directly authorised brokers and appointed representatives of confirmed networks.

The Mortgage Lender chief executive Trevor Pothecary says: “I’m delighted we’ll be accepting applications from Monday 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.”

The products can be accessed through Sesame and TenetLime networks, as well as the Paradigm, Residential Home Loans , SimplyBiz, TMA, The 1010 Group and 3mc mortgage clubs.

LSL director of mortgages David Copland says: “This is great news for TMA and our directly authorised intermediaries.

“Working with a very experienced management team within TML, their proposition offers a broader range of options for Intermediaries, enabling them to provide more solutions for customer types that are often underserved, such as contractors, self- employed, or those with impaired credit.”

The Mortgage Lender will also sell through specialist distributors AToM, Brightstar, Complete FS, Mortgage Force, Residential Home Loans (RHL), Solent Mortgage Services, The Mortgage Trading Company, TFC Homeloans, The 1010 Group and 3mc.