Mortgages

The Mortgage Lender reports record quarter for buy-to-let

Rozi Jones
|
23rd October 2020
Peter Beaumont
"Alongside the vast majority of businesses in the UK where we thought we would be at this point in the year and where we are now is completely different."

The Mortgage Lender has reported record increases in buy-to-let applications and completions during Q3.

The lender says Decisions in Principle were up 15% in September compared to August while applications climbed 13% and completions jumped by 29%.

TML is now expanding its customer service team with the addition of seven Glasgow-based roles including a head of customer support and recoveries and six customer support officers.

Peter Beaumont, chief executive of The Mortgage Lender, said: “Alongside the vast majority of businesses in the UK where we thought we would be at this point in the year and where we are now is completely different.

“But I’m proud of the way our team has responded to those challenges, we adapted, improved our buy-to-let products, introduced desk top valuations, and were able to carry on buy-to-let lending throughout with the backing of a balance sheet lender.

“Our latest performance figures underline the fact that we made the right decisions at the right time and are able to provide buy-to-let products and rates that brokers and their clients find attractive.

“We’re now in a position to grow the team and bolster our customer servicing capabilities as we look to the future and supporting brokers and customers as we all work through the longer term implications of the financial shock of coronavirus.”

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