Vida Homeloans has loosened lending criteria for customers with impaired and improving credit records.
Up to three unsecured missed payments in the last six months up to a combined total of £250 are now accepted on both residential and buy-to-let mortgages.
The new criteria is available on all tiers across both product ranges and on a majority of LTVs.
In addition, 100% debt consolidation is now allowed on residential remortgages up to 70% LTV, whilst fees can be added above 70% LTV.
Louisa Sedgwick (pictured), director of sales – mortgages, at Vida Homeloans, said: “In many situations, people who are late on a recent monthly repayment get penalised when applying for a mortgage, causing frustration, wasting time and losing money from application fees.
“This latest refresh of our lending criteria is part of our commitment to offer intermediaries flexibility in securing the best mortgage deal for clients who may not fit the criteria currently demanded by the high street.”