Your guide to The Mortgage Lender for intermediaries

For property buyers in the United Kingdom, engaging the services of an intermediary or mortgage broker is essential. These intermediaries serve as the link between eligible borrowers and mortgage lenders. They work with commercial banks and other lending companies to create more choices for their prospects.  

In turn, intermediaries must be selective when choosing to partner with mortgage lenders. They need to ensure that these home loan providers meet their clients' specific mortgage needs. One that is committed to helping clients with competitive products is The Mortgage Lender for intermediaries. This lending institution is offering their services through their dedicated underwriters and business development managers (BDMs). 

In this article, Mortgage Introducer will cover all that you need to know about The Mortgage Lender for intermediaries. We will talk about what they can do for their partner brokers as well as their product line. We will also discuss their eligibility criteria and other important details. Find out below if they are the right fit for your clients’ property loan needs. 

Get to know The Mortgage Lender for intermediaries 

The Mortgage Lender for intermediaries is the intermediary-only platform of The Mortgage Lender Limited. This lending company operates as a specialist intermediary-only mortgage lender. As such, The Mortgage Lender for intermediaries caters to eligible borrowers who are rejected or ignored by high street banks.  

The Mortgage Lender Limited is registered in England and Wales and is authorised and regulated by the Financial Conduct Authority (FCA). However, their Buy to Let mortgages are not regulated by the FCA. 

Shawbrook Bank acquisition 

The Mortgage Lender has been in the mortgage business for more than 20 years. They advocate changing the mortgage market for the better. In 2021, the Shawbrook Bank acquired The Mortgage Lender. The plan was to help The Mortgage Lender to grow their share in Residential and Buy to let markets. 

What The Mortgage Lender can do for intermediaries 

The Mortgage Lender offers tools and resources that help mortgage professionals provide excellent service to their clients. As a specialist mortgage lender, their property loan offerings can be customised for different client needs. 

They also have an exclusive website for their partner intermediaries. This online portal is easy to use and accessible for mortgage brokers even before signing up to register online. Once you create an account, you will be able to easily track your client’s applications. 

Some of The Mortgage Lender for intermediaries’ tools are as follows: 

a. Content hub 
b. Login or register 
c. Find your BDM page 
d. Consumer focus page 
e. Essential resources page 
f. News articles and case studies 

If you want to review your client’s financial capacity and other details against the Mortgage Lender for intermediaries’ interest rates, mortgage terms, etc., you can use their affordability calculators. They have two: 

• Residential affordability calculator 
• Buy to Let affordability calculator 

They also have a popup chat window called TML Bot where you can easily send your inquiries and concerns.  

With these broker tools and more, you can guarantee a better service for your clients and an extra boost for your career. Partnering with The Mortgage Lender for intermediaries can prove to be a smart move if you want to see your name or brand with the top intermediaries in the UK.   

Products offered by The Mortgage Lender for intermediaries 

Like most home loan providers in the United Kingdom, The Mortgage Lender for intermediaries also offers Residential and Buy to Let mortgages. To help you choose the most suitable deal for your clients, we will discuss both mortgage types and two others below: 

Residential mortgages 

For residential mortgages, your clients can apply for mortgages with varying loan-to-value (LTV) ratios. They can choose from 90%, 85%, and 75% LTV ratios. For home loans with 90% LTV ratio, first time buyers and employed applicants are allowed. The Mortgage Lender for intermediaries’ minimum credit score requirements must be followed. 

Do you have clients who are first time buyers? You might learn a thing or two from reading the testimonies of the brightest in the industry. See our special report on the best mortgage brokers in the UK for insights and inspiration. 

Other requirements 

For the loan limits, The Mortgage Lender for intermediaries will consider mortgage applications not less than £25,001. For Interest Only and Large Loans, the minimum loan is set at £500,000. For mortgages with 90% LTV ratios, the minimum loan requirement is £120,000.  

The Mortgage Lender for intermediaries’ maximum loan criterion will depend on the LTV ratio of a particular property loan: 

• £600,000 for 90% LTV ratio 
• £1 million for 80% LTV ratio 
• £1.25 million for 75% LTV ratio 

A maximum loan of £1.25 million can also be considered on referral. 

Buy to Let mortgages 

Your clients can apply for Buy to Let options for purchase and remortgage purposes. The minimum loan requirement depends on the criteria and the product itself. For the maximum, The Mortgage Lender for intermediaries can lend up to £3,000,000 per single asset exposure. The aggregated exposure is limited to £5,000,000. 

The Mortgage Lender for intermediaries’ Buy to Let mortgages have three repayment options: 

• capital and interest 
• interest only 
• part and part 

First time landlord 

For clients who are first time landlord, they can qualify if at least one applicant or director has already owned and still own one or more properties. These can either be for residential or Buy to Let purposes. The Mortgage Lender for intermediaries sets the maximum loan amount for first time landlords at £350,000. 

Shared Ownership 

The Mortgage Lender for intermediaries also offers their Shared Ownership product with a minimum loan amount of £25,001. The maximum is set at £405,000. This is only for purchase transactions. Your clients can get up to 95% LTV ratio of purchased share. However, this will be subject to 75% LTV against open market value. 

The Mortgage Lender for intermediaries only offers their Shared Ownership product for properties with an Energy Performance Certificate (EPC) rating of A-C. These must also be leasehold properties only. 

Remortgage 

For The Mortgage Lender for intermediaries’ residential mortgage applications, there must be no remortgage within six months of purchase. Back-to-back transactions are also not allowed. If your clients want to apply for a remortgage under six months, it will be on a referral basis. As for the Buy to Let selections, The Mortgage Lender for intermediaries will consider remortgages within six months of purchase. 

Learn more about remortgages when you watch this clip: 

To help you give the best service for clients who want to remortgage, here is our remortgage rates database. Feel free to check back weekly or favourite this page to stay updated on the ever-changing remortgage rates. 

The Mortgage Lender for intermediaries’ eligibility criteria 

After learning about their products, you should assess if your clients are eligible to secure a home loan with The Mortgage Lender for intermediaries. Their online portal contains a comprehensive guide to their set of requirements which must be complied with by applicants. Here are three of them: 

1. age 
2. residency 
3. deposit 

Let’s take a closer look at each requirement: 

1. Age 

For The Mortgage Lender for intermediaries’ residential mortgages, the minimum age limit is 21 years old while the maximum is 80 years old at the end of the mortgage term. If your clients’ mortgage term exceeds 35 years, The Mortgage Lender for intermediaries will not extend the loan amount into retirement. 

For Buy to Let mortgages, the minimum age limit is also 21 years old at the time of application. On the other hand, the maximum is set at 80 years old at application and 95 years old at the end of the mortgage term. 

For clients older than 80 years at the end of the mortgage term, they must have a clear succession plan already established. The same is true for any directors who are applicants. 

2. Residency 

The Mortgage Lender for intermediaries will allow applications for their residential home loans to these borrowers:  

• UK and European Economic Area (EEA) nationals who have three years of residential history
   
• non-EEA nationals who have been residents in the UK for the last three years; they must also have the permanent right to reside (diplomatic immunity is not allowed)
   
• non-UK nationals who can submit a certified copy of their passport 

For Buy to Let mortgage applicants, The Mortgage Lender for intermediaries will consider mortgage applicants who are: 

• UK nationals and EEA member states who can be traced using a UK address
   
• Non-EEA nationals who have a permanent right to reside in the UK; their applications can be considered on a case-by-case basis 

The Mortgage Lender for intermediaries does not allow diplomatic immunity. Mortgage applications from clients who are not UK nationals and who do not reside in the UK will not be considered. 

3. Deposit 

For residential mortgages, The Mortgage Lender for intermediaries requires evidence for sources of funds. This can be through: 

• savings 
• sale of property 
• sale of investments or shares 
• inheritance 
• other sources; subject for discussion 

The Mortgage Lender for intermediaries will allow family gifted deposits. These can from family members of the mortgage applicants such as: 

• parents 
• grandparents 
• spouse 

The Mortgage Lender for intermediaries will also consider gifts from wider family members. However, it will be on a case-to-case basis. As for family gifted equity, The Mortgage Lender for intermediaries requires that it should come from the applicant’s family member, and they cannot reside on the property. 

Working with The Mortgage Lender for Intermediaries 

Working with The Mortgage Lender for intermediaries is a smart move for both new and seasoned mortgage brokers. Their wide range of products and hassle-free online portal can guarantee that your clients will receive top-notch service. 

Eventually, this can translate to referrals and more prospects for your business. But if you feel like The Mortgage Lender for intermediaries is not the most ideal, you can look for other options. We have listed other mortgage lenders with intermediary-only platforms below: 

• Accord for intermediaries 
• Aldermore for intermediaries 
• Barclays for intermediaries 
• Coventry for intermediaries 
• HSBC for intermediaries 
• Leeds for intermediaries 
• Nationwide for intermediaries 
• NatWest for intermediaries 
• Precise for intermediaries 
• Skipton for intermediaries 

Do you think that The Mortgage Lender is a good lender for intermediaries to work with? Why or why not? Tell us what you think in the comments.