Anyone tried THE MORTGAGE LENDER - TML?

sash_berry

Hi,

Anyone tried or has any experience with THE MORTGAGE LENDER? They are quite new on the market and we are waiting for the answer from them as Precise refused to give us the mortgage.

Maybe someone dealt with them in the past?

Thanks

amnblog

No track record yet - you can let us know.

sash_berry

Ok amnblog,

We got kind of OK from them on 6.09. They asked for different docs and we are still waiting for the actual offer.
Today they came back and asked to pay the fees what feels quite positive but not an actual answer yet.
So waiting

sash_berry

So 3 weeks in we have received confirmation that we have an offer with TML. We have already instructed valuation team to proceed.

My partner has very bad credit rating - 7 defaults for approx. 35k
My credit rating is good, no CC, just one loan.
Our salary is around 130-140k and deposit 25%

Precise refused to give us a mortgage where TML accepted.

So I recommend The Mortgage lender to customers with bad history

ap1985

sash_berry wrote: »

So 3 weeks in we have received confirmation that we have an offer with TML. We have already instructed valuation team to proceed.

My partner has very bad credit rating - 7 defaults for approx. 35k
My credit rating is good, no CC, just one loan.
Our salary is around 130-140k and deposit 25%

Precise refused to give us a mortgage where TML accepted.

So I recommend The Mortgage lender to customers with bad history

Congratulations on the Mortgage offer

David_White

Thanks for the updates, they're on my radar but I'm always a little cautious when a lender is so new.

Congratulations on the offer!

csgohan4

6.09, that's eye watering, but hammer the overpayments when you can so your in a better position come remortgage

amnblog

csgohan4 wrote: »

6.09, that's eye watering

Not as eye watering of 35K of defaults.

Our poster is fortunate that there are now lenders coming back into the market for this kind of business.

obay

amnblog wrote: »

Not as eye watering of 35K of defaults.

Our poster is fortunate that there are now lenders coming back into the market for this kind of business.

I suppose if they have that many defaults that the guy will default and thus have the house back to sell on...

sash_berry

6.09 was September the 6th...not interest.

Interest is 5.57% so the same as Precise.
Well some people have very problematic divorces and have to pay a lot of money to ex`s and lawyers so this is where all these defaults are coming from. Not from late or missed payments. It was easier to go through StepChange without any interest rather than pay all debts, CreditCards with the %.
Ex got rid of all her CC and Store Cards, got a free house and Child maintenance for the kids that live with us now full time so its not just a standard situation with people failing to pay the monthly payment.
I guess everyone deserves a second chance... but its easy to judge people, isnt is OBAY?

Thank you for support amnblog x

ap1985

sash_berry wrote: »

6.09 was September the 6th...not interest.

Interest is 5.57% so the same as Precise.
Well some people have very problematic divorces and have to pay a lot of money to ex`s and lawyers so this is where all these defaults are coming from. Not from late or missed payments. It was easier to go through StepChange without any interest rather than pay all debts, CreditCards with the %.
Ex got rid of all her CC and Store Cards, got a free house and Child maintenance for the kids that live with us now full time so its not just a standard situation with people failing to pay the monthly payment.
I guess everyone deserves a second chance... but its easy to judge people, isnt is OBAY?


Thank you for support amnblog x

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Well said!