Rates begin at 5.15 per cent and it adds a new category to BM’s range which also include bands for borrowers with £1,500 and £3,500 of CCJs.
Products in the near prime 500 range include a tracker at base rate plus 0.4 per cent for two years then base rate plus 2.29 per cent for life.
The deal includes a free valuation plus £250 cashback. The product is available up to 75 per cent loan to value.
The range follows BM Solutions’ recent announcement that it will now pay brokers a full procuration fee for retaining business, as its fellow HBOS brand Halifax has done.
Head of sales and marketing Chris Pearson says: “With this move, we are now providing products for customers with a light bump or scrape on their credit records through to those with more significant adverse. We want to continue to lead the market in product and service innovation. Our recent announcement that we will pay brokers full procuration fees for product transfers has received a fantastic response.”