Reductions have been made to products for borrowers that fall under its AA, A and BBB tiers which are aimed at people repairing their credit. It allows for up to four defaults or county court judgments in the last three years, payday loans or missed payments.
These are available up to 80 per cent loan to value (LTV).
Rates will be reduced by up to 0.8 per cent the two and three-year fixes, and by up to 0.6 per cent on its five-year fixes.
Reece Beddall (pictured), sales and marketing director at Bluestone Mortgages, said: “As inflationary pressures continue to squeeze affordability, we are committed to supporting customers who do not fit the traditional lending criteria of high street banks.
“All too often customers with adverse credit get overlooked, and it’s our duty to provide them with solutions so that they can repair their credit while achieving their homeownership goals.”
Furness BS launches products
Furness Building Society has launched residential, buy-to-let and holiday let products to its offering.
This includes a two-year discount product for residential borrowers up to 80 per cent LTV, with a rate of 5.29 per cent. This has a £999 fee.
Across its buy-to-let, five-year fixed rates start from 5.74 per cent up to 75 per cent LTV with a £995 fee.
Alasdair McDonald, head of intermediaries at Furness Building Society, said: “We’re delighted to launch our new range of products to brokers across England, Scotland and Wales. With our individual approach to underwriting, we can cater for the straightforward cases as well as those that need a closer look and a personal touch.”
