Coventry
Building Society has made several "improvements" to its range of
mortgages for
credit impaired borrowers.
The mortgages are now available at up to 90 per cent of the property's value, while a new option for borrowers to switch to prime products has been introduced.
Furthermore, all
default notices which have been received will not be taken into account, nor will any County Court Judgements which were registered more than 36 months previous to applying for the mortgage.
Coventry notes that since July, when it began offering credit impaired mortgages, it has launched a range of
fixed-rate and
tracker products, including several with no early
repayment charges.
Colin Franklin, head of sales at
Coventry Building Society, commented: "We have made these improvements to our
lending policy as a result of listening to feedback from our introducer contacts and designing what they want for their clients.
"The combination of products and policy offer value, affordability, flexibility and transparency."
In addition to credit impaired mortgages, Coventry offers a range of products, including those designed for
first-time buyers and borrowers looking to
find a remortgage .
