Blips on your Credit Report? New Mortgage Offers Could Help You

Norton Home Loans has launched two new mortgage deals designed to help borrowers with less-than-perfect credit histories get on the property ladder.

The new ‘Optimal’ plans, available on both first and second charge mortgages, offer a lifeline for those who have had financial hiccups in the past. Even if you have a history of bad credit or have used payday loans, you could still be eligible. Don’t worry, as long as these issues are over 12 months old, you’re in the clear to apply.

What’s on Offer?

Here’s a breakdown of the Optimal plan highlights:

Competitive rates starting at 10.58% on both five-year fixed rate first and second charge mortgages.
Flexible loan amounts from £3,000 to £250,000, giving you options to suit your needs.
Choice of two or five-year fixed rate terms, providing peace of mind and predictable payments.
Maximum loan-to-value (LTV) of 75%, allowing you to borrow a significant portion of your property’s value.
Terms available up to 30 years, giving you flexibility in managing your monthly payments.

It Gets Even Better – Rates are Dropping!

As if the new Optimal plans weren’t enough good news, Norton Home Loans is also slashing rates across its standard first and second charge mortgage products. Some products have seen reductions of over 2%, making them even more attractive to buyers. For instance, rates on their popular second charge ‘A Plan’ now start at a competitive 11.98%.

Norton Home Loans

David Binney, Head of Sales at Norton Home Loans, expressed the company’s commitment to making mortgages accessible, stating: “With inflation reaching the Government’s target, a base rate reduction on the horizon and swaps stabilising since the beginning of the year, this is the right time for us to start reducing rates. This makes us more viable to our broker partners and their clients looking for an affordable solution where the rest of the market cannot assist. These rate reductions and plan enhancements are the start of several other exciting improvements planned for our product, criteria and process.”