Residential Lumi range
The Mortgage Lender have launched an packager exclusive range of residential products featuring enhanced credit criteria with initial rates from 4.98% for customers whose finances have been impacted by a change in circumstances.
- The range caters for customers with defaults, CCJs, and mortgage arrears
- Available to employed, self-employed and complex income applicants with a minimum loan is £25,001
- No cascade based on unsecured arrears
- Pay day loans settled on or before completion ( none in the last 12 months)
Steve Griffiths – Sales and Product Director
“Now more than ever lenders need to have criteria that caters for a wide range of customer circumstances and recognise that the last 12 months has been financially difficult for many people. Our Lumi range, which is available through specialist distributors, takes a pragmatic approach to the real-world experience many of our broker partners are presented with when they are sourcing a mortgage for their clients. It offers fair rates combined with a flexible approach to underwriting that provides a stepping-stone for home-movers or those remortgaging and, in some cases, credit repair.”