Cambridge Building Society has launched three products aimed at the self-employed and credit impaired.
The mortgages have a maximum loan-to-value of 80% and comprise of a self-employed 2-year discount at 3.24%, a self-employed 2-year fix at 3.99% and a home solutions (for those with missed payments) 2-year fix at 5.99%, all with a £199 application fee and £800 completion fee.
Dan Barker, product manager for The Cambridge, said: “We’ve always supported those who are self-employed through our standard product range, but these new products will make home ownership an option for even more people.
“Making the decision to choose an alternative employment route often comes with all sorts of challenges, but we don’t believe getting a mortgage should be one of them.”
Kathy Bowes, intermediary manager, said: “The reprice of our Home Solutions mortgage comes with an increased maximum LTV and loan size making it a suitable option for more intermediaries with clients who don’t quite meet standard criteria.
“My team are ready to talk to intermediaries about cases where there are missed secured and unsecured payments.
“With our manual underwriting policy we’re able to look each set of circumstances on an individual basis and help partners support even more borrowers in our lending area.”