The deal comes at a variable rate of 4.49% which is a discount of 0.5% off the standard variable rate and to a maximum loan-to-value (LTV) of 70%.
Buckinghamshire BS will accept one payday loan in the last 12 months and missed payments in the last three years provided none were consecutive or in the last three months. The mortgage is not available to the self-employed.
Further criteria accepted includes satisfied CCJs over six months old and under £500 in total and adverse credit provided it is supported by a life event.
Julie Hanif, business development manager for Buckingham Building Society, said: “We understand that credit scoring for various reasons can often disadvantage borrowers. However, as we take an individual approach using affordability and because of the criteria allowed on our new credit repair product, we will be able to help more borrowers get a mortgage.”