New adverse credit mortgage hits the market
July 10, 2025 by Mark
News
Tipton & Coseley Building Society has announced that it is launching a new mortgage product for borrowers with adverse credit issues, with this loan set to be a residential one.
The idea behind this product is to make it easier for borrowers who have credit issues in their past to buy a home. As it currently stands, those people would not meet the criteria for most mainstream loans offered by the high street lenders.
The new product launched by Tipton & Coseley has been given the name Credit Plus. It comes with a starting rate that has been set at 5.44%.
This two-year discount loan also comes with a maximum LTV (loan to value) of 80%, while the arrangement fee is £999. Tipton & Coseley has indicated that its launch is just the start.
The lender is planning to bring in further products under the name Criteria Plus. These will be targeted at people who have complex financial circumstances, such as self-employed borrowers.
Tipton chief commercial officer Jason Newsway spoke to Financial Reporter about the new product. He stated that borrowers with past credit issues should not be restricted to the specialist lending market.
He then went on to add:
“Regional building societies such as ours can bridge the gap between high street and specialist lenders for customers with minor credit issues, yet we’re often overlooked.”
This new product may be welcomed by those with the CeMAP mortgage advisor qualification, because it will provide them and their clients with options beyond the specialist market.
Written by
Mark
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