TML launches new residential mortgage products

Published on

The Mortgage Lender (TML) has added new products to its residential range with the aim of providing greater choice and flexibility for mortgage brokers and their clients.

The specialist lender has launched two and five-year fixed rate 90% LTV residential purchase products for properties with an EPC rating of A-C. This will also include allowing a builder gift or incentive of up to 5% as part of the deposit on new build purchases.

TML has also extended its maximum residential mortgage term from 35 to 40 years.

Chris Kirby, head of key accounts & specialist distribution at TML, said: “At TML we’re striving to support mortgage brokers, and their clients, by increasing the options available to them.

“With the launch of our 90% LTV residential products, available for purchases of properties with an EPC rating of A-C, we will be able to provide solutions to those with smaller deposits with their homeownership ambitions. By making these products available to properties with an EPC rating of A-C, we are providing an option to those looking for lower emitting, more energy efficient and cheaper to run properties.

“We’re aware that for many consumers it’s important to have the flexibility to have a lower payment in line with their budget, so by also extending the maximum term on our residential products from 35 to 40 years, we will be able to help more consumers with the mortgage being paid off by retirement or age 70, whichever is sooner.”

Craig Hall, director of New Homes Financial Services at LSL, added: “It is vital that we have a range of solutions for all homebuyers, particularly for those that don’t fit the high street lenders, and therefore it is great to see further choice for first time buyers and movers with a deposit of 10%. This is welcome news and highlights growing lender confidence in the New Homes sector and more energy efficient homes, well done to the team at The Mortgage Lender.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...