"The success of this particular case is also a testament to our team, with Alice and Leanne working efficiently together and regularly communicating with the broker in order to progress the case forward to achieve the customer’s property goals"
- Louise Apollonio - TML
The Mortgage Lender has showcased their real-life lending approach with a recent complex case for a self-employed customer, supporting the applicant with their next property purchase.
The applicants were a couple on their next-time buyer journey, seeking an interest-only large loan on a property purchase of £1.6m, using the sale of other UK property as the Mortgage Repayment Vehicle.
The mortgage broker approached TML because the maximum loan offered by another lender based on their affordability was insufficient, and timings were reaching a crunch point as the property in question was close to being put back on the market.
Having been referred to contact TML by New Leaf Distribution, the broker reached out to Alice Baggott, Key Accounts Manager, to find out how TML could help. Alice worked closely with the underwriter at TML, Leanne Robertson, to get all the required documentation submitted in a timely manner, so that the case could be reviewed efficiently, and the applicant’s affordability assessed correctly.
The case was made complex as the self-employed applicants had three separate income streams for TML to consider, including the latest years of pre-tax profits plus salary, the latest years of partnership income, as well as additional land and property income. TML was able to consider all of these income streams as part of the applicant’s affordability and offer a large loan, at 60% LTV - double the amount the customer had been offered by their previous lender.
Louise Apollonio, Head of Corporate Accounts at The Mortgage Lender, comments: “Real-life lending is at the heart of what we do, and so for those who have more complex income streams we look at how we can factor these in to help boost an individual’s affordability, particularly when they may have previously been told no or have more limited options offered to them before.
“The success of this particular case is also a testament to our team, with Alice and Leanne working efficiently together and regularly communicating with the broker in order to progress the case forward to achieve the customer’s property goals.”
Dev Sopal, Managing Partner at Utopia Financial Partners Ltd comments: “Cases like this can be more challenging to place, especially when they involve complex incomes, large loans, and have a tight timeframe to work to. However, the team at TML were incredibly responsive and knowledgeable which made working with them a seamless experience.
"They were on hand every step of the way, clear in their communication, and had a real positive attitude which made them a joy to work with. We were pleased to offer the customer exactly what they needed in order to make the next step on their property journey.”
