You are here: Home - News -

The Mortgage Lender confirms distributors before May launch

by:
  • 28/04/2016
  • 0
The Mortgage Lender confirms distributors before May launch
The Mortgage Lender, due to launch in May, has confirmed it will be distributing to Appointed Representatives through specialist distributors including Brightstar, TFC Homeloans and 3mc.

The yet-to-launch residential lender will also offer its range through Residential Home Loans (RHL), All Types of Mortgages (AToM), Complete Mortgage and Loan Services, Solent Mortgage Services and The Mortgage Trading Company.

The announcement follows shortly after it revealed its distribution partners for Directly Authorised brokers through SimplyBiz Mortgages, Paradigm Mortgage Services, The Mortgage Alliance, 3mc and Residential Home Loans.

AToM managing director Dale Jannels, said: “The market for specialist mortgages is evolving and it is great to see a new entrant with the heritage and experience of The Mortgage Lender team. By partnering with The Mortgage Lender we will be able to offer a wider range of products to our customers at prices that are closer to the high street than is currently available.”

The Mortgage Lender’s sales and marketing director Pete Thomson, said: “Specialist distributors are key to our strategy of achieving market penetration for our products quickly. We’re delighted to be partnering with some of the best known names in the industry who have seen our plans and are keen to deal with a mortgage lender that has straightforward underwriting processes and a product range that will be keenly competitive.”

The Mortgage Lender, led by CEO Trevor Pothecary, (pictured) will be targeting the self-employed, later life and impaired credit residential borrowers from launch next month.

The product range will include deals for minor adverse customers and borrowers up to 80 years of age. The intermediary-only specialist lender has a rolling £1bn commitment from funders TwentyFour Asset Management has been agreed and the lender plans to service its loans in-house.

Its range will be available up to 85% loan-to-value with a two-year tracker that starts at 2.19%, or as a two or five-year fix with rates starting at 2.41%. The lender is offering capital and interest loans from launch but said ‘plenty of innovation’ is on the way.

Rates are dependent on the borrower’s credit history, which will fit them into one of the nine underwriting bands and brokers will be able to submit, track and manage their applications online.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
buy to let
Landlords focus on refurbishment over purchase, study finds

Landlords have moved towards maintaining and refurbishing existing properties rather than expanding property portfolios, the latest Private Rented Sector (PRS)...

Close