The Lumi-branded range is available up to 75 per cent loan to value (LTV), across four categories to support customers with defaults, county court judgements (CCJs) and mortgage arrears.
The products are available for employed, self-employed and complex income applicants.
Rates start at 4.98 per cent for a two-year fix and 5.29 per cent for a five-year fix at 70 per cent loan to value and are open for loans between £25,001 and £1m.
It also offers criteria for unsecured arrears, bankruptcy and pay day loans outside that of TML’s standard range.
The lender said it was taking a pragmatic approach to the real-world experience many clients are facing and it was providing “a stepping-stone for homemovers or those remortgaging and, in some cases, credit repair”.
TML sales and product director Steve Griffiths said: “Now more than ever lenders need to have criteria that caters for a wide range of customer circumstances and recognise that the last 12 months has been financially difficult for many people.
Doug Hall director of distributor 3mc added: “We are seeing increasing numbers of customers whose financial situation has been impacted by the coronavirus pandemic who need products that are appropriate for their circumstances now.
“Through sharing our knowledge and challenges with lenders, like TML, the specialist lending sector is proving it can meet those needs in a responsible way.
“The launch of Lumi is great news for brokers and customers. It shows lenders are listening and able to respond to the market, improving customer choice and competition.”
