Pink Home Loans has launched a new poor credit mortgage range.
Potential borrowers with adverse credit problems can now find a mortgage with the Pink On-Track mortgage range.
Poor credit mortgage borrowers could be approved for any of the mortgage lender's light to heavy adverse credit mortgage range.
Remortgage customers receive free legal fees without charge when they find a remortgage from the poor credit mortgage range offered by Pink.
An initial mortgage rate of 5.94 per cent will be charged on the poor credit mortgages .
This mortgage rate will see a reduction of 0.1 per cent every half-year, as long as mortgage holders meet their monthly mortgage repayments .
When the lifetime tracker mortgage rate is reached, mortgage holders will pay that mortgage rate for the rest of the mortgage term.
The lifetime tracker mortgage rate is currently pegged at 1.14 per cent above the Bank of England base rate. The full status mortgage has the mortgage rate set at 0.84 per cent above the base rate.
These mortgage rates are "competitive", believes Dev Malle of Pink Home Loans .
"This is a genuine credit repair product," she says of the range that is on offer in association with Freedom Lending .
Freedom Lending's product manager, Mark Elden, says this poor credit mortgage range offers "unbeatable value on a true cost basis".
He says it is "ideal" for people who had adverse credit problems but who are now working back towards a prime mortgage rate .
Poor credit mortgage range launched by Pink
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Poor credit mortgage range launched by Pink
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