No higher lending charge will now apply to loans where the customer has up to:
- £2,000 in CCJs
- Two out of 12 missed mortgage payments
- IVA satisfied in two years
- Bankruptcy discharged in two years
Ian Nelson, chief executive of Unity Homeloans, commented: “We have listened to the feedback from our packager partners in designing our range and have made the move to drop HLCs on our first three ranges of products as a direct result of the comments we have received meaning that clients with up to £2,000 in CCJs and significant arrears now don’t have to pay a HLC. This is a very significant move as it highlights the value of the feedback from our partners.”
