The Mortgage Lender (TML) has reduced the number of tiers for its residential products to four and scrapped its underwriting cascade for potential borrowers with unsecured arrears.

This, the lender says, will make it easier for brokers to place cases for clients with credit blips.

In the residential range, at up to 75% LTV, rates now start at 2.79%.

Additionally, TML’s limited distribution ‘Lumi’ range, which has been designed or borrowers with credit profiles with a history featuring events such as payday loans, discharged individual voluntary arrangements and bankruptcy, has three tiers, with rates starting at 4.25% for a 75% LTV product.

TML sales and product director Steve Griffiths says: “Removing the cascade approach to unsecured arrears means that we will be able to offer lower rates and higher LTVs for customers with an unsecured arrears credit profile, as well as working more closely with our Specialist Distribution partners for more complex adverse credit scenarios.

“By simplifying our residential lending approach we’re responding to what our brokers say is important to them, speed of decision and certainty, while offering more solutions for borrowers who don’t quite fit high street lending criteria.