First National Mortgage Company (FNMC) has extended its Fresh Start mortgage range for applicants with light-to-medium adverse impaired credit, to include two new products with loan-to-value ratios of 85 and 90 per cent respectively.
The new Fresh Start products are an addition to the existing Fresh
Start 95 per cent product and can potentially provide a much larger loan to applicants who have more of a deposit.
Fresh Start 85 per cent allows applicants to borrow up to £400,000, at
rates starting from 6.24 per cent.
Fresh Start 90 per cent is available for loans up to £300,000, at rates from
6.74 per cent.
Applicants can have up to two CCJs in the 12 months prior to making the mortgage application.
Gerry Bell, marketing manager at FNMC, said: " The launch of Fresh Start 85 per cent and 90 per cent will help more customers as both are available to individuals with worse credit histories than the 95 per cent offer, and on larger advances.
"The new offers help to give us one of the most complete credit-impaired
mortgage portfolios in the specialist lending market, and back up our
claim to be the UK's leading intermediary-led, all-status lender.”
