Melton Building Society has refreshed its credit repair mortgage range, removing completion fees from selected products.
The move is aimed at borrowers with a history of light to heavy adverse credit, with the lender hoping to make homeownership more accessible.
The new products include an 80% loan-to-value (LTV) 2-year fixed at 6.29% (near prime enhance), a 75% LTV 2-year fixed at 6.44% (near prime), a 75% LTV 2-year fixed at 7.24% (credit assist), and a 75% LTV 2-year fixed at 7.64% (credit recovery).
All of these mortgages come with a free basic valuation and a £199 application fee, but no completion fees.
Jamie Hyland (pictured), head of product and marketing at Melton Building Society, said: “We are delighted to introduce these new products to our Credit Repair Product Range.
“We believe that these changes will provide options for those that might consider completion fees as a barrier to borrowing.
“As a mutual building society, we’re dedicated to providing fair value lending options for a wide range of applicants, including those with impaired credit.”
Hyland added: “We remain committed to helping those who perhaps do not meet the traditional lending criteria of high street lenders, and we hope these reductions will encourage those who have experienced a financial hiccup to pursue their home ownership ambitions.”
