The non-conforming mortgage range will offer a 2 year fixed rate mortgage and a 3 year stepped discount option for three levels of impaired credit, light, medium and heavy.
The Society will consider a wide range of circumstances and these products have been designed with this in mind, including:
- Count Court Judgements (CCJs)
- Mortgage or rent arrears
- Defaults
- Bankruptcy
- Individual Voluntary Arrangement (IVA)
The rate applicable for each product depends on the level of impaired credit, starting from 6.25% for the 2 year fixed rate and discounts of 1.40% in year 1, 0.90% in year 2 and 0.65% in year 3 for the stepped discount mortgage.
Jeff Kirk, Corporate Relationship Manager said, “We have created a range of innovative products designed to offer customers with impaired credit the opportunity to remortgage or purchase their own home at a competitive rate.”
These products are only available through the Society’s intermediary channel. For further information contact your local Development Manager, telephone 01543 417803 or visit www.leedsintroducer.co.uk.
