Suggested social post: Here’s one for #selfemployedmortgages, TML will consider Covid-impacted accounts if business bank statements for the last three months demonstrate a return to pre-pandemic turnover – and are offering market leading five and two-year fixed rates. For more info…
Key changes:
- We’ll consider Covid-impacted accounts if business bank statements for the last three months demonstrate a return to pre-pandemic turnover (speak to a BDM before submitting an application);
- We only need a three-month contracting history to consider a residential application, with 12 months previous employment in a similar role;
- Up to 100% overtime and commission now considered for employed applicants;
- Price reduction across our whole range with for two and five-year fixed rates which start at 3.2% and 3.35% at 70% LTV;
- No completion fee on products up to RL4, which start at 3.55% for a five-year fixed rate at 70% LTV, with free standard legals and a free valuation;
- Free legal fees for remo above £75k.
Quote from Steve Griffiths, Sales & Product Director;
“Not only do our changes reduce costs for borrowers by making us more competitive across our specialist residential mortgages, they also directly address the issues borrowers have told us about through our own market research. Self-employed borrowers and contractors who have been impacted by the pandemic but can demonstrate a return to pre-Covid levels of income and trading are now able to move house or remortgage – many clearly felt this wasn’t an option for them before. But by listening to their concerns and adapting our criteria to meet their current needs we’re providing the choice, flexibility and agility that’s expected from a competitive specialist lending sector.”
