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MBS Lending extends credit repair mortgage range

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  • 16/08/2019
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MBS Lending extends credit repair mortgage range
MBS Lending, the Melton Building Society’s credit repair subsidiary, has added three fixed rate deals to its mortgage range.

 

The fixed rate products are available at up to 70 per cent loan to value (LTV) and include a shared ownership deal at up to 90 per cent of the purchase price, subject to a maximum 60 per cent LTV.

The trio of three-year fixes will go live on Monday, with a near prime deal at 5.49 per cent and a further credit repair product at up to 6.25 per cent depending how severe the adverse is.

The shared ownership product is available at 4.99 per cent.

The lender said it is committed to supporting customers who have suffered with adverse financial history by helping them to repair their credit file as quickly as possible.

It will consider lending to customers who have suffered with missed mortgage payments, defaults and county court judgments (CCJs), bankruptcy, an individual voluntary arrangement (IVA) or debt management plan and repossession on all three of the deals.

Its range of mortgages also includes Right to Buy products at up to 95 per cent of the discounted purchase price.

“We are consistently looking for ways to help people who have suffered with credit impairment and following feedback from our customers and intermediary partners, we are pleased to be able to launch a new range of fixed rate products,” said Dan Atkinson, head of sales and marketing, the Melton.

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