The society will allow for one payday loan in the last 12 months and missed payments in the last three years providing none of them were consecutive or in the last three months.
Buckinghamshire Building Society has unveiled a 3-year discount rate mortgage (by 0.50% from standard variable rate) at 4.49% to 70% loan-to-value for credit repair borrowers.
The society will allow for one payday loan in the last 12 months and missed payments in the last three years providing none of them were consecutive or in the last three months.
The product is not available to the self-employed.
Julie Hanif, business development manager for Bucks Building Society, said: “We understand that credit scoring for various reasons can often disadvantage borrowers.
“However, as we take an individual approach using affordability and because of the criteria allowed on our new credit repair product, we will be able to help more borrowers get a mortgage.”
