The mortgage lender - TML

MortgageWonders

stephylou19 said:

Hi, 

has anyone got any information on tml on how long the turnaround is once the application is with the underwriter? 

From what I've seen on Facebook, it's between 3 to 7 weeks from application to offer, depending on how complex the case is and the questions they have 

Colin0883

Hi , we have just submitted to TML , we nervous on what questions they might ask for in regards to extra documents and we want to be prepared ,has anyone had experience on what things they ask for please ?

Lawsie01

Colin0883 said:

Hi , we have just submitted to TML , we nervous on what questions they might ask for in regards to extra documents and we want to be prepared ,has anyone had experience on what things they ask for please ?

Mine was submitted last Monday. They came back this Monday asking for a bank statement they already had and a letter from my landlord confirming that I would be leaving the tenancy (me and my partner have split but are still living in the same house) and that he will remain in the property. They’ve already scheduled the valuation which is due on Friday. I’m praying the extra documents are ok and the valuation goes well. My mortgage broker is confident it will be and hopefully I should have an offer soon 🙏🏻

Bsb86

Hello.
We put in full application 10 days ago,  (already paid admin fee and got a DIP) and I believe application is with the underwriter, came back today looking for proof of debts being paid, an explanation for settled CCJ from 4 years ago and asking about a default which has actually dropped off my credit file. Buying a new build and only have 17 days left to exchange (had to reserve house to get equity loan approval then apply for mortgage)

anyone have any experience and know if these timescales and types of questions are a bad thing? So nervous, not even had valuation booked yet and time is running out!

thank you

akther1010

Hello, 

I’ve been keeping up with this thread. 

I’m buying a new build and after a long wait finally in the process of getting the mortgage sorted. I’ve gone with TML due to previous adverse credit from 5 years ago. DIP obtained 12th March, Help to Buy approved 8th April. Full application went in Friday 9th April, hard credit search done and fees for full application and declaration signed today 13th April. MA has advised its now with the underwriters. 

They have all my documents but still feel nervous. Credit score isn’t great but I’ve not missed any payments and have not defaulted in the last 5 years.

They pretty much have everything they need from me but is there anything specific they look into that anyone is aware of on bank statements? I feel I’m overthinking and hoping everything goes smoothly and hope they ignore the amount of Costa coffees I drink! 

Any advice would be fab. 

Justsaveit

currently going through an application with this lender also.

so far they seem very responsive, I get new document requests every day or 2 

anyone gone with them recently and have an idea of their timescales ?

jenhen87

Our mortgage broker has also advised us to get a DIP from this lender. It’s good to see other people talking about this now as information is difficult to find. Our DIP application was submitted two days ago so waiting to hear about that initially.

Our situation is:
My own credit profile is looking good on checkmyfile. The only thing that comes up is association with my ex-husband who has significant debt. The only ties we had were our joint mortgage and bank account. Mortgage moved over solely to my name in 2019 (I bought him out of the property) and bank account also went to my name. However, he’s still there as an associate so I’ve requested removal from my profile and this has been approved. I have one late payment to a Next account. MB not concerned about anything from my end.

My partner lost his job at the beginning of the first covid lockdown. He took a mortgage break and then was able to keep paying his mortgage. He missed three energy bills and a car loan payment. However, he then sold his property and moved in with me so paid energy arrears off in full (account closed) and caught up with car payments. 

Our combined income is around £100k. It varies due to partner’s overtime which is a definite every month but at a varied rate. 

We have applied for a DIP for a property around £350k and deposit of £60k. This is worst case scenario though as we may go for a property at less and have more deposit. We are looking at new builds and my own property hits the market this week. 

Our MA isn’t concerned and this TML is our best option. She already has a huge number of documents but it looks like TML will ask for more and more 😂 

Looking forward to seeing how you get on @Justsaveit 🤞🏼

ACG

Im using them a little more recently than I have before. They are alright, they are not usually a lender to keep going back and forth with requests in my experience, but I do not use them massively so I could be wrong. 

The last 3 times I have used them they came back and asked me to re-certify the ID on one case as I did not put our regulatory number of the ID - nice easy thing to sort out. 
The other was to ask about some transactions, which was easy enough to answer. 

Aside from that, I think they have come a long way and are a relatively easy lender to deal with. 

If you are going to TML you have less than straight forward circumstances, has your broker done a good job in "packaging" your application or have they just packaged in the same way they would a halifax/natwest case? If they have done nothing more than they would for a high street lender, that would explain the back and forth, unfortunately with these lenders we have to do a little more and earn our money with them. 

Justsaveit

jenhen87 said:

Our mortgage broker has also advised us to get a DIP from this lender. It’s good to see other people talking about this now as information is difficult to find. Our DIP application was submitted two days ago so waiting to hear about that initially.

Our situation is:
My own credit profile is looking good on checkmyfile. The only thing that comes up is association with my ex-husband who has significant debt. The only ties we had were our joint mortgage and bank account. Mortgage moved over solely to my name in 2019 (I bought him out of the property) and bank account also went to my name. However, he’s still there as an associate so I’ve requested removal from my profile and this has been approved. I have one late payment to a Next account. MB not concerned about anything from my end.

My partner lost his job at the beginning of the first covid lockdown. He took a mortgage break and then was able to keep paying his mortgage. He missed three energy bills and a car loan payment. However, he then sold his property and moved in with me so paid energy arrears off in full (account closed) and caught up with car payments. 

Our combined income is around £100k. It varies due to partner’s overtime which is a definite every month but at a varied rate. 

We have applied for a DIP for a property around £350k and deposit of £60k. This is worst case scenario though as we may go for a property at less and have more deposit. We are looking at new builds and my own property hits the market this week. 

Our MA isn’t concerned and this TML is our best option. She already has a huge number of documents but it looks like TML will ask for more and more 😂 

Looking forward to seeing how you get on @Justsaveit 🤞🏼

Thanks for your reply!
I hope things go well for you also, be sure to keep us updated! 🤞