Mansfield expands Credit Repair Range to 75% LTV

Mansfield Building Society has increased the maximum LTV on its Credit Repair Range from 70% to 75% LTV.

The Society’s Credit Repair products are aimed at borrowers with adverse credit characteristics, including:

• Defaults from three months (max £2,500 for credit defaults),
• Active IVAs and debt management plans from six months,
• Active CCJs from 12 months (max £6,000 in last 36 months),
• Discharged bankrupts from day one,
• Missed payments up to status 5 in the last 12 months on credit cards, phone plans and utilities.

Head of sales, Tom Denman-Molloy, commented: “Taking our Credit Repair criteria to 75% LTV will help more borrowers with complex credit at higher LTVs access our flexible approach to lending. 

"Not only can we accept a variety of adverse credit scenarios, we can also empower these borrowers by allowing them to consolidate debts or raise funds too.

"And with our new DigiHome broker portal, we can balance our very human approach to complex lending with a streamlined and intuitive DIP and application process.

"As well as being a can-do lender for complex cases, we’re also providing an efficient online experience, significantly reducing the burden for brokers.”