Shawbrook Retail Mortgages announces enhancements to both The Mortgage Lender’s (TML’s) residential and buy-to-let (BTL) mortgage propositions, aimed at providing more options and improved accessibility for a wider range of borrowers.
One of the key changes includes expanded eligibility for non-UK nationals who do not yet have Indefinite Leave to Remain but have demonstrated stability and commitment through UK residency and employment. Applicants working in the UK on a Skilled Worker or Health & Care Visa may now qualify for a mortgage with TML, subject to meeting specific criteria.
These borrowers may be eligible for up to 90% loan-to-value (LTV) for residential mortgages and 75% LTV for BTL, based on:
- A minimum of 1 year’s UK residency
- A valid UK work visa with at least 6 months remaining
- A minimum income of £50,000
Additionally, the lender has broadened its buy-to-let criteria to support landlords letting out properties they have either previously lived in or inherited. These enhancements reflect TML’s ongoing commitment to meeting the evolving needs of both intermediaries and their clients, by offering greater flexibility and more inclusive lending solutions.
Steve Griffiths, Commercial Director for Retail Mortgages at Shawbrook, commented: “These changes reflect our ongoing mission to provide more opportunities for customers who are often underserved by traditional criteria. 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.”
