Leeds Building Society’s adverse arm, Leeds Lending Solutions will consider borrowers with CCJs, mortgage or rent arrears, defaults, bankruptcy or Individual Voluntary Arrangements.
Announcing the service, Kim Rebecchi, general manager of sales at Leeds Building Society, said: “There are a number of people who have had their credit ratings detrimentally affected as a result of divorce or separation. We are also well aware of the statistics regarding the incidence of divorce in the UK and this, together with the increasing levels of personal debt, means that more people could experience problems over the coming years.”
Paul Fielding, principal IFA at Cambria Financial, said: “The launch of a channel will enhance people’s awareness of Leeds Building Society’s products that come under the non-conforming category and let them now there is help at hand.”
However, Fielding admitted that Leeds would have to improve its criteria if it was to be competitive in the market. He added: “Although Leeds’ products don’t have the most expensive rates, they are not the most competitive either.”
