Second charges on buy-to-let properties are also considered.
The product is for any adverse plan up to 65% loan to value allowing for six months current mortgage arrears, unlimited county court judgements and defaults.
Both employed and self-employed individuals are eligible subject to income proof.
Marie Grundy, operations director at V Loans, said: “We are delighted to be able to offer these very attractive terms to our introducers. The new product fills a critical gap in the market, particularly for those clients who have suffered as a direct result of the downturn and find most doors closed to them because they have experienced financial difficulties, often as a direct result of the effects of the recession.
“Many people who are now in a position to pay a loan to alleviate their problems have found that getting credit when they need it almost impossible. Details of the new product are available on our website or please phone us with any queries.
“Our introducers are going to see this product as a way for some of their clients to get back on their feet and I think it will be very popular to help improve their financial position and enable them to repair their credit rating.”
