Our Credit Renew mortgages are designed for borrowers who have experienced credit difficulties in the past and are unable to access a standard mortgage due to their credit history or credit score, but have since stabilised their financial position and are ready to move forward.
For borrowers with lighter historical credit issues, we also offer our complementary Credit Assist range, designed to support those whose circumstances fall outside our Core Residential criteria but do not require Credit Renew.
Borrowers seeking Credit Renew may have experienced financial difficulties as a result of redundancy, illness, relationship breakdown or other unforeseen life events. The range can support clients with a history of debt consolidation, Debt Management Plans (DMPs), County Court Judgments (CCJs), Individual Voluntary Arrangements (IVAs) and other forms of adverse credit.
Available for both purchase and remortgage applications, Credit Renew mortgages are offered up to 75% loan-to-value (LTV).
To assess whether Credit Renew is suitable for your client, review the product information sheet.
For full eligibility and lending criteria, click here.
CRF201
Initial interest rate
Fixed for 2 years from date of completion.
6.54% fixed
Max Loan to Value (LTV)
Maximum loan to value available:
75%
Product Fees
£800 (non-refundable)
Overall Cost for Comparison
The overall cost for comparison
7.1% APRC representative
CRD01
Initial interest rate
0.95% discount off the Society's Homeowner Variable Rate for 2 years. In any event, the rate will not go below 2.25%.
5.94% variable
Max Loan to Value (LTV)
Maximum loan to value available:
75%
Product Fees
£800 (non-refundable)
Overall Cost for Comparison
The overall cost for comparison
6.9% APRC representative