TML - The Mortgage Lender - Real Life Lending

jojodam27

Hi,

Has anyone recently used TML as a lender? Our broker has submitted the application for us 2 weeks ago now and in that time they have instructed the valuation and asked for another months bank statements but haven’t heard anything since. 

Would you say it is a good sign if they have done the valuation? It’s a new build so not expecting anything untoward to really come up. 

And if anyone has an example of further documents/ info they’ve needed that would be great! 

Thanks so much in advance 

K_S

@jojodam27 With TML, once the initial packaging (application plus minimum documentation) has been uploaded and all fees paid (if any), at that point the underwriter will usually instruct the valuation so it runs in parallel with the underwriting.

jojodam27

K_S said:

@jojodam27 With TML, once the initial packaging (application plus minimum documentation) has been uploaded and all fees paid (if any), at that point the underwriter will usually instruct the valuation so it runs in parallel with the underwriting.

Thank you - so it doesn’t really give any indication if they are likely to offer the mortgage then? 

K_S

jojodam27 said:

K_S said:

@jojodam27 With TML, once the initial packaging (application plus minimum documentation) has been uploaded and all fees paid (if any), at that point the underwriter will usually instruct the valuation so it runs in parallel with the underwriting.

Thank you - so it doesn’t really give any indication if they are likely to offer the mortgage then? 

@jojodam27 Your broker wouldn't submit a full app with TML (or another specialist lender) without it being more than likely to go to offer   But as I described above, the valuation being instructed does not mean that underwriting is complete.

jojodam27

K_S said:

jojodam27 said:

K_S said:

@jojodam27 With TML, once the initial packaging (application plus minimum documentation) has been uploaded and all fees paid (if any), at that point the underwriter will usually instruct the valuation so it runs in parallel with the underwriting.

Thank you - so it doesn’t really give any indication if they are likely to offer the mortgage then? 

@jojodam27 Your broker wouldn't submit a full app with TML (or another specialist lender) without it being more than likely to go to offer   But as I described above, the valuation being instructed does not mean that underwriting is complete.

Thank you so much for explaining. The process is so nerve wracking! Hoping to hear soon!