Bath Building Society has launched a Credit Repair range in response to broker feedback.
The range was designed to help borrowers with historical credit issues, with three new products, up to 70% LTV.
The three residential products include a 2-year fixed rate at 5.69% a 5-year fixed rate at 5.39%, and a 2-year 2.15% discount from the standard variable rate (SVR).
Ben Hutchings, head of intermediary mortgage sales at Bath Building Society, said: “The Society recognises the growing need for more understanding from lenders amid the hard times that customers face due to the ongoing cost of living crisis.
“Our Credit Repair products could be an option for customers concerned about a poor credit rating.
“Rates and charges tend to be higher due to the perceived risk.
“However, once clients are accepted for one of our Credit Repair mortgages and can prove regular payments, their credit rating will improve to enable them to consider a more competitive product.
“We take a flexible approach to underwriting and will consider each case on its merits. We do not credit score.
“The actual rate and APRC for each case will depend on individual circumstances and our assessment of the risk.”
