The product enables borrowers to purchase property or refinance an existing asset for credit repair purposes.
Director Yasin Patel said, ’’Unlimited adverse product allows clients a lifeline to enable them to repair their credit, stop repossession and save their investments. Not many lenders are lending to sub-prime clients but at Mayfair we are happy to help clients that are struggling.’’
The product is aimed at heavily adverse credit borrowers and Mayfair accepts unlimited CCJs, arrears and missed payments irrespective of when they occurred.
The maximum loan to value is 50% based on the open market value of the property secured by way of a first charge on investment residential or commercial property.
Mayfair’s Shoaib Bux said, “There has been a huge demand in the market for a product of this type as many adverse credit borrowers are being penalised and being tarred with the same brush. At Mayfair we look at each individual deal on its merits.”
