The Cambridge has just launched its new Credit Assist mortgage range, designed to support borrowers who have an impaired credit history due to missed payments, CCJs or defaults on credit agreements.
The Cambridge introduces new mortgage range for borrowers with impaired credit history
The new range of Credit Assist mortgages replace The Cambridge’s previous Home Solutions mortgage products. To better support borrowers, The Cambridge has introduced two products with fixed and discounted options to suit each borrower’s personal circumstances.
The Credit Assist mortgage range is offered to those who have up to five missed payments in the last two years on credit cards, mail order, utilities or communications, or who have unsatisfied defaults to the value of £100 in the last two years. The two year fixed rate product is available at 3.49% up to 85% LTV. The three year discounted rate in this range is available at 3.94% up to 85% LTV with no early repayment charges.
The Credit Assist Mortgage Extra range is offered to customers who have had three or more unsecured loan missed payments, up to two secured loan missed payments and CCJs or defaults satisfied or unsatisfied up to the value of £5,000. In this range The Cambridge is offering a two year fixed rate product at 5.29% up to 70% LTV and a three year discounted rate product at 5.19% up to 70% LTV with no early repayment charges.
Tracy Simpson, Head of Lending at The Cambridge, comments on the introduction of Credit Assist: “At the Cambridge we’re committed to introducing solutions that help a wide range of customers, and our newly launched Credit Assist range specifically aims to help those mortgage customers who have experienced credit issues in the past and who are finding it difficult to secure a mortgage. Credit Assist helps these customers get back on track. In addition, our experienced team review each application on an individual basis which provides the highest level of support.”
The Cambridge is an independent, mutual society which has been serving the community since 1850