Hinckley and Rugby Building Society has updated its product and criteria, the details are below. These products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business.
No tricks, just more flexibility for your adverse credit cases
Got a client with a credit profile that looks a little scary? We’ve made three enhancements to our Credit Assist and Credit Renew criteria to give you more flexibility when placing those trickier cases.
Here’s what’s changed. No tricks, just treats!
Credit Renew: No maximum value on CCJs
We’ve removed the £2,500 limit on satisfied CCJs. Cases with a total value above £2,500 can now be considered, subject to referral to our BDM team.
CCJs must be satisfied before completion, with none registered within the last three months.
Credit Assist: More flexibility on historic arrears
We’re now accepting up to 4 consecutive months’ arrears from 24-60 months ago on mortgages, secured loans, hire purchase and unsecured loans.
This gives you greater flexibility for clients who may have experienced payment difficulties in the past but have since got back on track.
Credit Assist: Debt consolidation now accepted
Debt consolidation is now accepted up to a maximum product LTV of 80%, giving you another option for clients who need to consolidate existing borrowing.