The Tipton will apply more flexible criteria to these mortgages, which it said would provide a “realistic alternative to specialist or adverse credit lenders at a competitive pricing position”.
The rates start at 5.44% for a two-year discount mortgage with a £999 arrangement fee up to 80% loan to value (LTV).
Jason Newsway, chief commercial officer at the Tipton, said: “Brokers and their customers shouldn’t feel compelled to turn to specialist lenders just because of a slightly imperfect credit history.
“With rising living costs and the unpredictability that life can throw at us, occasional credit events are becoming more commonplace.
“As a result, certain customers may find themselves unfairly excluded from mainstream finance while they work towards achieving a more stable position.”
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The mutual also plans to introduce Criteria Plus mortgages to its range in the coming months to target borrowers with non-standard income or people buying complex property types.
Newsway said: “All of our lending decisions are made using a personalised underwriting approach, with a tailored assessment of every case to factor in the borrower’s specific circumstances.
“Having a wider choice of products, including the addition of Credit Plus, means we’re presenting brokers and their customers with a viable mainstream lending solution.
“Regional building societies such as ours can bridge the gap between high street and specialist lenders for customers with minor credit issues, yet we’re often overlooked.”
Earlier this year, the firm reported that its gross mortgage lending in 2024 was £120m.
