PRODUCT GUIDE RESIDENTIAL - The Mortgage Lender · 2020-03-31 · RESIDENTIAL PRODUCT GUIDE FOR...

RESIDENTIALPRODUCT GUIDE

FOR INTERMEDIARY USE ONLY

@TMLmortgage The Mortgage Lender 0344 257 0418

NEW - Unsecured Arrears product launched

NEW - Free valuation on New Build purchases acrosscore product range

NEW - 80% LTV Help to Buy (Scotland) products

NEW - Real Life 0 products - initial rates from 2.45%

Latest updates

For customers with less than perfect credit

For customers with complex income types

For customers who are self-employed

Who are these products for?

The Mortgage Lender Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Firm Reference Number 707058). Our Buy to Let mortgages are not regulated by the Financial Conduct Authority. Registered in England & Wales as company number 9280057.

Registered office address: Fifth Floor, 100 Victoria Street, Bristol BS1 6HZ.

CONTENTSReal Life Criteria

Real Life Unsecured Arrears 1

Real Life 0

Real Life 1

Real Life 2

Real Life 3

Real Life 4

Real Life 5

Real Life 6

Real Life 7

Help to Buy: Equity Loan

Help to Buy (Scotland)

Key Criteria

3

4

5

6

7

8

9

10

11

12

13

14

15

2

3

PRODUCT GUIDE RESIDENTIAL Real Life Criteria

CCJs and Defaults Bankruptcy and IVA* Real Life 6 - Maximum 2 CCJs or 2 defaults included in the combined total. ** Real Life 7 - Maximum 3 CCJs or 3 defaults included in the combined total.

Maximum CCJs in 36 months £2,500. Help to Buy maximum CCJs in 36 months £300.Utility and Communications defaults are not considered adverse credit.

Maximum LTV 75%. Applicant must have maintained a clean profile in the last 36 months.


Must be satisfied for

12 months prior to application

(including defaulted payday

loans)

Credit score will not be used to determine product rate. Arrears assessed on worst status basis.

***LIBOR is 0.54%, effective from 12/03/2020. Rates are based off 3-month LIBOR, rounded up to 2 decimal places.

0 in 48 months 85%Real

Life 0

0 in 36 months

0 in 24 months

1 in 24 months

2 in 24 months

4 in 24 months

6 in 24 months

0 in 24 months

0 in 24 months

1 in 24 months, 0 missed in 6

months

3 in 24 months, 0 missed in 6

months

1 in 24 months

3 in 24 months*, 0 in 6 months

5 in 24 months**, 0 in 6 months 75%

Acceptable, full outstanding credit commitments will be used for affordability

purposes

85%

85%

85%

85%

85%

0 in 6 yearsDischarged/satisfied

for 72 months

Real

Life 2

Real

Life 3

Real

Life 4

Real

Life 5

Real

Life 6

Real

Life 7

Discharged/satisfied for 72 months


0 in 48 months 85%Real

Life 1

NoneNo Current

DMP85%

2 in 24 months, currently up to date

0 in 36 months 0 in 36 months

Payday LoansMax LTVDMPReposessionBankruptcy and IVACCJsSecured ArrearsUnsecured Arrears Defaults

0 in 72 months

0 in 72 months None

None

None

None

No Current DMP

No Current DMP

No Current DMP

No Current DMP

None


purposes


purposes


purposes

0 in 6 years

0 in 6 years

Real Life

UA 1

4

PRODUCT GUIDE RESIDENTIAL Unsecured Arrears 1

LTV FeesProduct Term Product Features Revert RateInitial Rate Completion Fee

Key Criteria

Purchase and remortgage. Capital and interest only. LIBOR + 4.50%2.49% £995

Purchase and remortgage. Capital and interest only. LIBOR + 4.50%3.23% £995 Application fee £150 / TT fee £30 / Valuation fee variable

Application fee £150 / TT fee £30 / Valuation fee variable










70%

75%

80%

85%

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

Must be satisfied for 12 months prior to

application (including defaulted payday loans)

NoneNo Current

DMP85%

2 in 24 months, currently up to date



0 in 72 months

@TMLmortgage The Mortgage Lender 0344 257 0418Purchase and remortgage available on all products unless stated. All mortgages on a capital and interest basis.


Real Life

UA 1

5

PRODUCT GUIDE RESIDENTIAL Real Life 0

Key Criteria


Real

Life 0

Purchase and remortgage available on all products unless stated. All mortgages on a capital and interest basis.


Free valuation on new build purchases


Free standard legal fees / Min loan £75k / Remortgage only


Min Loan 75k / Max Loan 250k / Purchase only


2.64%

3.28%

2.85%

3.39%

2.45%

3.19%

£995

£995

£995

£995

£1,345

£1,345

£500 cashback / Min loan 75k / Remortgage only2.85% £995








2.74%

3.34%

2.95%

3.45%

2.55%

3.25%

£995

£995

£995

£995

£1,345

£1,345









2.94%

3.48%

3.15%

3.59%

2.75%

3.39%

£995

£995

£995

£995

£1,345

£1,345



Application fee £150 / TT fee £30 / Valuation fee £0 - variable

Application fee £0 / TT fee £0 / Valuation fee £0

















3.28%

3.79%

3.49%

3.90%

3.09%

3.70%

£995

£995

£995

£995

£1,345

£1,345







70%

75%

80%

85%

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%




0 in 48 months 85%0 in 72 months NoneNo Current

DMP


6



70%

75%

80%

2 Year Fixed

5 Year fixed







LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

2.84%

3.34%

3.05%

3.45%

2.65%

3.25%

£995

£995

£995

£995

£1,345

£1,345

£500 cashback / Min loan 75k / Remortgage only LIBOR + 4.50%3.05% £995


2 Year Fixed

5 Year fixed







LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

2.88%

3.41%

3.09%

3.52%

2.69%

3.32%

£995

£995

£995

£995

£1,345

£1,345



2 Year Fixed

5 Year fixed







LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

2.98%

3.54%

3.19%

3.65%

2.79%

3.45%

£995

£995

£995

£995

£1,345

£1,345



Real

Life 1













Key Criteria


85%

2 Year Fixed

5 Year fixed







LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

3.34%

3.84%

3.55%

3.95%

3.15%

3.75%

£995

£995

£995

£995

£1,345

£1,345











0 in 48 months 85%NoneNo Current

DMP


7



LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

2.88%

3.38%

3.09%

3.49%

2.69%

3.29%

LIBOR + 4.50%3.09%

LIBOR + 4.50%3.49%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

2.98%

3.41%

3.19%

3.52%

2.79%

3.32%

LIBOR + 4.50%3.19%

LIBOR + 4.50%3.52%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

3.18%

3.60%

3.39%

3.71%

2.99%

3.51%

LIBOR + 4.50%3.39%

LIBOR + 4.50%3.71%













Key Criteria


LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

3.48%

3.88%

3.69%

3.99%

3.29%

3.79%

LIBOR + 4.50%3.69%

LIBOR + 4.50%3.99%





70%

75%

80%

Real

Life 2

85%

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed








£995

£995

£995

£995

£1,345

£1,345

£500 cashback / Min loan 75k / Remortgage only£995








£995

£995

£995

£995

£1,345

£1,345









£995

£995

£995

£995

£1,345

£1,345









£995

£995

£995

£995

£1,345

£1,345







DMP


8



3.14%

3.64%

3.35%

3.75%

2.95%

3.55%

3.35%

3.75%

3.21%

3.68%

3.42%

3.79%

3.02%

3.59%

3.42%

3.79%

3.34%

3.84%

3.55%

3.95%

3.15%

3.75%

3.55%

3.95%













Key Criteria


3.74%

4.08%

3.95%

4.19%

3.55%

3.99%

3.95%

4.19%






70%

75%

80%

85%

Real

Life 3

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%







£995

£995

£995

£995

£1,345

£1,345









£995

£995

£995

£995

£1,345

£1,345









£995

£995

£995

£995

£1,345

£1,345









£995

£995

£995

£995

£1,345

£1,345







DMP


9



3.24%

3.78%

3.45%

3.89%

3.05%

3.69%

3.45%

3.89%

3.30%

4.04%

3.51%

4.15%

3.11%

3.95%

3.51%

4.15%

3.64%

4.18%

3.85%

4.29%

3.45%

4.09%

3.85%

4.29%













Key Criteria


3.96%

4.48%

4.17%

4.59%

3.77%

4.39%

4.17%

4.59%





Real

Life 4

70%

75%

80%

85%

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%








£995

£995

£995

£995

£1,345

£1,345





Free valuation available on new build purchases only




£995

£995

£995

£995

£1,345

£1,345









£995

£995

£995

£995

£1,345

£1,345









£995

£995

£995

£995

£1,345

£1,345








purposes

85%None


10









3.68%

4.18%

3.89%

4.29%

3.49%

4.09%

£1,195

£1,195

£1,195

£1,195

£1,545

£1,545

£500 cashback / Min loan 75k / Remortgage only3.89% £1,195








3.98%

4.54%

4.19%

4.65%

3.79%

4.45%

£1,195

£1,195

£1,195

£1,195

£1,545

£1,545









4.08%

4.64%

4.29%

4.75%

3.89%

4.55%

£1,195

£1,195

£1,195

£1,195

£1,545

£1,545















Key Criteria








4.58%

4.99%

4.79%

5.10%

4.39%

4.90%

£1,195

£1,195

£1,195

£1,195

£1,545

£1,545







Real

Life 5

70%

75%

80%

85%

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%




85%2 in 24 months 0 in 24 months


1 in 24 months 0 in 6 yearsDischarged/satisfied

for 72 months


purposes


11



LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

4.18%

4.48%

4.39%

4.59%

3.99%

4.39%

LIBOR + 4.50%4.39%

LIBOR + 4.50%4.59%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

4.49%

4.58%

4.70%

4.69%

4.30%

4.49%

LIBOR + 4.50%4.70%

LIBOR + 4.50%4.69%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

4.74%

4.68%

4.95%

4.79%

4.55%

4.59%

LIBOR + 4.50%4.95%

LIBOR + 4.50%4.79%













Key Criteria


LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

5.04%

5.39%

5.25%

5.50%

4.85%

5.30%

LIBOR + 4.50%5.25%

LIBOR + 4.50%5.50%





Real

Life 6

70%

75%

80%

85%

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed








£1,195

£1,195

£1,195

£1,195

£1,545

£1,545

£500 cashback / Min loan 75k / Remortgage only£1,195








£1,195

£1,195

£1,195

£1,195

£1,545

£1,545









£1,195

£1,195

£1,195

£1,195

£1,545

£1,545









£1,195

£1,195

£1,195

£1,195

£1,545

£1,545





85%4 in 24 months1 in 24 months, 0 missed in 6

months


3 in 24 months,0 in 6 months 0 in 6 years



purposes


12









LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

5.18%

5.18%

5.39%

5.29%

4.99%

5.09%

£1,495

£1,495

£1,495

£1,495

£1,845

£1,845

£500 cashback / Min loan 75k / Remortgage only LIBOR + 5.00%5.39% £1,495








LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

LIBOR + 5.00%

5.28%

5.48%

5.49%

5.59%

5.09%

5.39%

£1,495

£1,495

£1,495

£1,495

£1,845

£1,845











Key Criteria


70%

75%

2 Year Fixed

5 Year fixed

2 Year Fixed

5 Year fixed

Real

Life 7




75%6 in 24 months3 in 24 months, 0 missed in 6

months


5 in 24 months,0 in 6 months 0 in 6 years



purposes


13

PRODUCT GUIDE RESIDENTIAL Help to Buy: Equity Loan (England, Greater London & Wales)

LTV FeesProduct Term Product Features Revert RateReal Life Initial rate


2 Year Fixed

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

0

1

4

2

3

6

3

4

0

1

2

5

3.20%

3.97%

3.76%

3.44%

4.24%

5.05%

3.67%

4.60%

3.90%

3.34%

3.97%

4.54%

5 Year Fixed

ReferenceApplicant(s) must fund a minimum deposit of 5%.Products available to First Time Buyers and Home Movers.Help to Buy maximum CCJs in 36 months £300.Before submitting an application you should ensure your customer is aware of the implications of taking a shared equity loan as part of the financing of the purchase of their home.Further information can be found on the Help to Buy Scheme websites:https://www.gov.uk/affordable-home-ownership-schemes/help-to-buy equity-loanhttps://www.helptobuylondon.co.uk/

75%

Completion Fee

£995

£995

£995

£995

£995

£1,495

£995

£995

£995

£995

£995

£1,495

Products are available for new build purchases only via the Government backed Help to Buy schemes in England including Help to Buy London and Wales. All mortgages are on a capital and interest basis.

***LIBOR is 0.54%, effective from 12/03/2020. Rates are based off 3-month LIBOR, rounded up to 2 decimal places.@TMLmortgage The Mortgage Lender 0344 257 0418

Min loan £25,001 LIBOR + 4.50%5 5.20% £1,495

Min loan £25,001 LIBOR + 4.50%6 5.24% £1,495

https://www.gov.uk/affordable-home-ownership-schemes/help-to-buy equity-loan

https://www.helptobuylondon.co.uk/

14

PRODUCT GUIDE RESIDENTIAL Help to Buy (Scotland)

LTV FeesProduct Term Product Features Revert RateReal Life Initial rate


2 Year Fixed

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

0

1

4

2

3

6

3

4

0

1

2

5

3.20%

3.97%

3.76%

3.44%

4.24%

5.05%

3.67%

4.60%

3.90%

3.34%

3.97%

4.54%

5 Year Fixed

ReferenceApplicant(s) must fund a minimum deposit of 5%.Products available to First Time Buyers and Home Movers.Help to Buy maximum CCJs in 36 months £300.Before submitting an application you should ensure your customer is aware of the implications of taking a shared equity loan as part of the financing of the purchase of their home.Further information can be found on the Help to Buy (Scotland) website:https://www.mygov.scot/help-to-buy

75%

Completion Fee

£995

£995

£995

£995

£995

£1,495

£995

£995

£995

£995

£995

£1,495

Products are available for new build purchases only via the Government backed, Help to Buy (Scotland) Affordable New Build scheme. All mortgages are on a capital and interest basis.

***LIBOR is 0.54%, effective from 12/03/2020. Rates are based off 3-month LIBOR, rounded up to 2 decimal places.@TMLmortgage The Mortgage Lender 0344 257 0418

Min loan £25,001 LIBOR + 4.50%5 5.20% £1,495

Min loan £25,001 LIBOR + 4.50%6 5.24% £1,495


2 Year Fixed

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

Min loan £25,001

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

LIBOR + 4.50%

0

1

4

2

3

6

3

4

0

1

2

5

3.40%

4.10%

4.10%

3.64%

4.40%

5.30%

3.80%

4.74%

4.04%

3.44%

4.16%

4.74%

5 Year Fixed

80%

£995

£995

£995

£995

£995

£1,495

£995

£995

£995

£995

£995

£1,495

Min loan £25,001 LIBOR + 4.50%5 5.40% £1,495

Min loan £25,001 LIBOR + 4.50%6 5.44% £1,495

https://www.mygov.scot/help-to-buy/

15

KEY CRITERIA

***LIBOR is 0.54%, effective from 12/03/2020. Rates are based off 3-month LIBOR, rounded up to 2 decimal places.@TMLmortgage The Mortgage Lender 0344 257 0418 Mar20/1.2

Fees

Purchase & RemortgageFees

Completion Fee £995-£1,845

Application Fee £0-£150

ERCs

ERCs

2 Year Products

5 Year Products

Year 1

3%

5%

Year 2

2%

4%

Year 3

-

3%

Year 4

-

2%

Year 5

-

1%

Standard Legal Fees Variable (not applicable dependent on product)

Telegraphic Transfer Fee £0-£30

Valuation Fee Variable (not applicable dependent on product)

Please refer to the Residential Fees and Tariff of Charges for valuation fee scale information and for other fees and charges that may apply.

Debt Consolidation

***LIBOR

Where the applicant is using remortgage funds to consolidate unsecured debt, we will normally add a condition to the offer which requires the nominated solicitor/conveyancer to repay the debts directly. The nominated solicitor/conveyancer may charge the applicant for fulfilling this condition.

If the product selected is from our free standard legal fees range, the nominated solicitor/conveyancer will normally supply the applicant with a cheque for each unsecured debt over £500, made payable to the relevant credit provider. For any amounts under £500, a cheque will normally be payable to the applicant for them to repay the relevant credit provider directly. The applicant will continue to be liable for interest charges applied by the credit provider until the debt is repaid in full and if an alternative payment method is requested, the nominated solicitor/conveyancer may charge the applicant.

The Financial Conduct Authority does not intend to ask panel banks to continue submitting information to the administrator of LIBOR after the end of 2021, which means LIBOR may not continue to be available on the same basis in the future. Our mortgage agreements allow us to replace LIBOR with an alternative rate in specified circumstances. This means that during the variable rate period the interest rate on a customer’s loan may vary by reference to an alternative rate selected by us, instead of LIBOR.

Free Standard Legal Fees The standard legal conveyancing work will be carried out by TML’s panel solicitor, Aberdein Considine, at no cost to the customer. Please note, standard legal conveyancing does not include:

Transfer of title or unregistered titlesTransfer of EquityDischarge of second or subsequent charges

This list is not exhaustive. If there is any non-standard legal work required, the conveyancer will liase directly with the customer and provide a quote for costs.

First Time BuyerFirst time buyer applications are subject to a maximum LTV of 85%.

CashbackCashback will be paid to the bank account details provided for Direct Debit payments. Payments will be made within 14 days following mortgage completion.

PRODUCT GUIDE RESIDENTIAL - The Mortgage Lender · 2020-03-31 · RESIDENTIAL PRODUCT GUIDE FOR...

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