The one-year fixed rate remortgage, offered at 5.74% reverting to Standard Variable Rate of 5.24% plus 0.50%, from Buckinghamshire is offered to borrowers with unlimited but satisfied debts.

The mutual will lend up to 70% LTV with a 1.75% completion fee or minimum client fee of £3250, alongside a procuration fee of 0.40% to a maximum of £1,000.

Platinum said each loan is usually priced on its merits and available interest-only or on repayment terms, the refinancing vehicle also takes an Early Repayment Charge of 3% for the first 12 months.

Platinum, based in Barnet Hertfordshire said it has been piloting these products for 18 months with Buckinghamshire Building Society. The lender accepts ‘one piece of explainable adverse credit at any period for any amount’ subject to review by the society’s underwriter and six months clean personal banking statements.

Tony Bunting, spokesman at Platinum Options said: “The Buckinghamshire makes the potential client pay off any adverse credit before the deal is done. If the Loan to Value (LTV) is there and the income’s there, the deal can be used as a debt management tool.”

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Ivan Gould, chief executive of Buckinghamshire BS said: “Another case involved an entertainer with a satisfied CCJ who wanted £350,000 on a £1.1m property. He was turned down by all the high street lenders but we lent to him,” said Gould.

People are having problems raising money, even borrowing the same amount they have already, he said, adding: “I’d far rather lend to a mature, credit repair homeowner at 60% LTV than a first-time buyer at 95% with no experience of the cost of homeownership.”

“Individually tailored complex prime lending is what building societies are all about. We can’t compete on pricing so we have to find our own way through, but the difficulties in the market are helping us at the moment,” he added.

Saffron Building Society, which lent roughly £5m in credit repair loans against £160 to 200m of mainstream lending last year said there is a lack of demand in this market with people either trapped by their LTV or on a low LIBOR-linked rate.

Saffron chief executive Andy Goulding said the mutual only considers borrowers with one-off credit problems and a solid payment history.

“We are never going to go to the wholesale markets, so the only way this market could open up further is if the securitisation markets start to ease and specialist lenders launch in to the sector,” he said.

The latest Mortgage Solutions poll reveals the credit repair market is far from dead, with 11% of advisers placing one to three applicants with satisfied debts within the last three months.

Furthermore, 8% of the advisers polled have placed 3 to 5 cases in the last three months, although the vast majority, or 70% have placed no cases at all.