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Tipton & Coseley launches ‘Credit Plus’ for borrowers with minor credit issues

Tipton & Coseley Building Society has added ‘Credit Plus’ to its residential mortgage range, targeting borrowers with minor credit issues. 

The product aims to support people struggling to buy a home or refinance due to previous credit blips.

Credit Plus starts at 5.44% for a 2-year discount mortgage, up to 80% loan-to-value (LTV), with a £999 arrangement fee. 

The Tipton also plans to launch Criteria Plus mortgages in the coming months, which will cater for borrowers with non-standard income or those buying more complex property types.

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.”

Newsway added: “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.”

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