Mansfield Building Society has reduced the rates on its Credit Repair products by up to 0.60%.
Mansfield’s Credit Repair range is available up to 70% loan-to-value (LTV) for borrowers who have experienced credit problems such as missed payments, defaults, debt management plans and even bankruptcy.
The range now includes a 2-year fixed rate at 7.39% and a 2-year discounted variable rate 1.70% below its Standard Variable Rate (SVR) (current pay rate 7.19%).
Both products have no completion fee and basic legal fees are included for remortgages secured on properties located in England and Wales.
Tom Denman-Molloy (pictured), Mansfield’s intermediary sales manager, said the rate reduction gives a real boost for individuals looking at their mortgage options, especially those that need extra helping getting back on their feet.
He said: “Although Bank Rate appears to be stabilising and inflation reducing, cost increases continue to put pressure on household expenditure.
“We want to make sure we’re doing everything we can to help everyday borrowers with their mortgage needs, making it more cost effective for borrowers to access our expansive criteria and flexible underwriting approach.”
