The Mortgage Lender (TML) are ready to help customers as they adjust to the new ‘normal’
They have enhanced their criteria on their residential loans, which means they can accept more cases from more people.
Here’s FOUR ways TML are adapting to the new normal:
1) For the self-employed TML will consider using 2019/20 accounts for applicants who’s most recent accounts have been impacted by Covid. The last 3 months business bank statements need to show a return to a similar level of turnover to 2019/20.
2) For the employed TML will consider up to 100% of overtime and commission.
3) CIS contractors treated as employed.
4) Contractors considered with just 3 months of contracting (12 months previous employment in a similar role required).
Do you have a client who needs a new normal approach to lending? If so please contact the residential team today on 023 8045 6999 option 1.