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TMO offers IFAs £200 compensation for failure to process offers in 48 hours

The Mortgage Operation is guaranteeing to give mortgage advisers £200 if it fails to meet its processing targets.


TMO says the initiative called Non-Con guarantees a fast track service. It is promising to pay mortgage advisers £200 if an offer is not produced within 48 hours of the application being submitted.


The £200 will also be paid if the mortgage process is not completed within ten days of the offer being made.


The scheme aims to increase service levels for IFAs and provide them with an extensive portfolio of mortgage products for non-conforming customers.


Rates start from 7.95 per cent and TMO will pay intermediaries a commission of 1 per cent of the loan on completion. It is offering a guaranteed minimum of £800 as part of a special launch offer.

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