MortgagesApr 28 2016

New specialist lender confirms distribution panel

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New specialist lender confirms distribution panel

Eight distributors have signed up to offer specialist mortgages from The Mortgage Lender, which is due to launch in May.

Last week, the new market entrant from ex-Mortgages PLC boss Trevor Pothecary revealed its initial product range and underwriting guidelines, targeting the self-employed with complex incomes and those who require lending into retirement.

The range is available up to 85 per cent loan-to-value, with a two-year tracker that starts at 2.19 per cent, or as a two and five-year fix, with rates from 2.41 per cent.

The specialist distributors who will be able to offer products from launch are Brightstar, TFC Homeloans, 3mc and Residential Home Loans, All Types of Mortgages, Complete Mortgage and Loan Services, Solent Mortgage Services and The Mortgage Trading Company.

The Mortgage Lender’s sales and marketing director Pete Thomson, said specialist distributors are key to the firm’s strategy of achieving market penetration quickly.

Atom managing director Dale Jannels said the launch of the lender confirms the market for specialist mortgages is evolving.

He said: “By partnering with The Mortgage Lender we will be able to offer a wider range of products to our customers at prices that are closer to the High Street than is currently available.”

Recent market entrants have also included Australian-based Bluestone Mortgages and Pepper Homeloans, both specialising on those borrowers with adverse credit conditions.

peter.walker@ft.com