On affordability, the lender is now able to accept up to 50 per cent of variable income including bonus, overtime and commission.
It has lifted restrictions on previous defaults, county court judgements (CCJs) and payday loans – returning this criteria to its pre-Covid-19 approach.
The lender has increased its maximum loan size to £1m and reintroduced its Near Prime range for customers whose credit profile falls just outside of its prime rates.
And it has made interest rate reductions across its entire pricing model and re-introduced options for variable rate, discounted rate and interest-only products.
Optimum Credit commercial director Simon Mules (pictured) said: “The last six months have been challenging for everyone and I would like to thank all of our intermediaries for their continued support.
“We hope that this launch is the start of a new chapter – it is certainly a statement of our intent to grow our lending volumes and continue to take a leading role in the second charge mortgage market.”