The new complex prime range includes four new mortgage products, which are all available on purchase or remortgage.

Across the range, sole applicants can apply for over 5.5 times their annual gross income, or over 5 times for joint applicants.

The new range consists of a complex prime two-year fixed rate at 4.75% to 31 January 2028 and £999 fee. This is available with 80% loan-to-value (LTV) with a maximum loan of £500k.

There is also a complex prime five-year fixed rate at 4.89% to 31 January 2031 and £999 fee. This is available with 80% LTV with a maximum loan of £500k.

In addition, a complex prime two-year discount at 4.65% (2.95% discount from SVR of 7.60%) with a £499 fee. This is available with 80% LTV and a maximum loan of £1m and offers 25% overpayment without charge.

The final product is a complex prime two-year discount at 5.19% (2.41% discount from SVR of 7.60%) with a £499 fee. This is available with 90% LTV and a maximum loan of £450k. As with all Vernon discount mortgage products, it also offers 25% overpayment without charge.

Vernon Building Society head of mortgage and savings distribution Brendan Crowshaw says: “The Vernon personally underwrites every mortgage application, and we have developed a strong track record in being able to say ‘yes’ when larger lenders have to say ‘no’ as a result of rigid lending policies and automated decision making.”