MBS Lending has also increased the maximum loan amount to £500,000 across its residential mortgage range.
MBS Lending, the Melton Building Society’s credit repair subsidiary, has launched four 2-year fixed-rate mortgages up to 70% loan-to-value ratio (LTV).
MBS Lending has also increased the maximum loan amount to £500,000 across its residential mortgage range.
The lender supports customers who have suffered adverse financial histories by helping them to repair their credit file with a range of fixed-rate, discounted and shared ownership products.
It will consider lending to customers who have suffered with missed mortgage payments, defaults and county court judgments (CCJs), bankruptcy, an individual voluntary arrangement (IVA) or debt management plan and repossession.
Dan Atkinson, head of sales and marketing at the Melton Building Society, said: “We have launched this new range of 2-year fixed-rate credit repair mortgages in response to ever-increasing demand from our customers and broker partners.
“We are continually looking at ways to help people repair their credit to give them the opportunity to move onto a standard mortgage as quickly as possible and for customers who prefer to know exactly what their mortgage will cost every month, we now offer a choice of two and three year fixed rate products.”
