Mortgage Advice Bureau (MAB) advisers will now be able to access Tandem’s first charge residential remortgage and purchase products.
Tandem Bank has a number of key criteria including: a fair view credit assessment which means it only assesses the client’s most recent 22 months’ credit history for product terms; CCJs/defaults under £750 do not affect the product tier; a maximum LTV of 90% (including debt consolidation); Day 1 discharged from bankruptcy/IVA are accepted at up to 85% LTV; and the latest years’ figures are used for self-employed customers, potentially including retained profits for limited company directors.
Ben Thompson, deputy chief executive of Mortgage Advice Bureau, said: “We are delighted to be able to give our advisers access to Tandem Bank and their new residential mortgage range and to work with them to help develop their proposition further so that we can meet the aspirations of even more borrowers in the future.
“With the economic challenges having increased significantly for mortgage borrowers and consumers due to a variety of factors, including the Covid 19 pandemic and current cost of living crisis, the need for more mortgage lenders who can consider and underwrite a wide variety of borrower circumstances, and say, ‘Yes’ to those underserved borrowers has never been greater.”
Ben added, “Tandem brings real expertise and appetite in enabling an increased range of customers to both buy a home and/or refinance existing arrangements whilst doing so in a broker centric manner.”
Roger Morris (pictured), director of sales and distribution at Tandem, added: “Tandem Bank is delighted to become part of MAB’s lender panel. We’re looking forward to working with such a diverse and visionary business. Not only does the new relationship give Tandem an opportunity to work with highly motivated and trained brokers in the market, but also a chance to learn more about the challenges facing the intermediary market and provide solutions, as we have with our reimagining of the remortgage process.”
