Precise Mortgages has launched a range of residential mortgage products for customers with poor credit profiles, including those with county court judgements, defaults and active debt management plans.

The lender says the maximum loan to value for customers with lower levels of recent adverse credit will lift to 85%. It will reintroduce its tier five, widest acceptable adverse products, for customers with higher levels of poor credit to a maximum of 80% LTV.

The firm, part of specialist lender OSB Group, says the range covers two and five-year fixed rates and is available for customers with recent county court judgements, defaults, secured and unsecured arrears as well as active and satisfied debt management plans.

It adds the range offers a refund on the valuation of all products, and the option to add fees.

The lender adds the range will also include the reintroduction of Right to Buy mortgage products, available at 90% and 100% of the discounted purchase price available to customers “with less than perfect credit profiles”.

OSB Group group intermediary director Adrian Moloney says: “The pandemic has undoubtedly left a mark on many customers who may be struggling to secure lending elsewhere and this range could provide a simple solution, especially for those with an impacted credit score.”

“It’s good news for brokers too as our automated cascade system filters cases through our tiers until an appropriate product is found without the need to reapply.”

L&G Mortgage Club head of lender relationships Danny Belton adds: “This is a welcome announcement from Precise Mortgages and a real boost to our customers who may have less-than-perfect credit through no fault of their own.”