"By broadening our approach to include skilled workers and landlords in more nuanced circumstances, we’re helping to equip brokers with the options they need to support a wider range of client needs"
- Steve Griffiths - TML
Shawbrook’s retail mortgages division has introduced a series of changes to The Mortgage Lender’s (TML’s) residential and buy-to-let (BTL) mortgage offerings, aiming to broaden access for skilled overseas workers and a wider range of landlords.
Among the updates is a move to support non-UK nationals who do not yet have Indefinite Leave to Remain, but who have established residence and employment in the UK. Applicants on a Skilled Worker or Health & Care Visa may now qualify for a mortgage with TML, provided they meet specific eligibility conditions.
Eligible borrowers must demonstrate:
At least one year of UK residency
A current UK work visa with a minimum of six months remaining
An annual income of £50,000 or more
Those who meet the criteria may access up to 90% loan-to-value (LTV) for residential mortgages and up to 75% LTV for BTL products.
TML has also adjusted its BTL criteria to assist landlords letting out properties they have either previously lived in or inherited. This move is intended to offer more flexibility for property owners managing non-traditional rental arrangements.
“These changes reflect our ongoing mission to provide more opportunities for customers who are often underserved by traditional criteria,” said Steve Griffiths, commercial director for retail mortgages at Shawbrook (pictured). “By broadening our approach to include skilled workers and landlords in more nuanced circumstances, we’re helping to equip brokers with the options they need to support a wider range of client needs. Our goal is to remove barriers where possible and make homeownership and property investment more accessible.”
These latest changes align with TML’s ongoing efforts to respond to shifting borrower demographics and provide solutions that support brokers in meeting diverse client requirements.
