High Street Home Loans is offering a mortgage for the cre dit-impaired guaranteed not to exceed the base rate by more than 2 per cent.
Premier One is for sale exclusively through IFAs and mortgage brokers and is available for loans up to £1m.
HSHL believes from its own research it is the only provider to offer a mortgage for credit-impaired applicants capped at no more than 2 per cent higher than Bank of Eng land base rates for the term of the loan.
For example, for a purchase or remortgage bor
rower with three county court judgments looking for a 95 per cent loan to value, Premier One currently offers a standard variable rate of 7.69 per cent, 1.69 per cent more than the Bank of England base rate of 6 per cent.
HSHL pays a procuration fee of 0.65 per cent on completion of applications.
Sales and marketing director Gary Forrest says: “Intermediaries are dem anding new and innovative products for the credit-impaired market. We bel ieve Premier One meets these needs.”