Mansfield Building Society has added a long-term fixed rate product to its credit repair range.

The product offers a fixed rate of 6.39% until 31 March 2030 on loans up to 70% loan-to-value (LTV) with no completion fee.

It includes a basic property valuation, and basic legal fees are covered for remortgages in England and Wales.

In addition, it offers enhanced affordability due to the affordability being assessed on the pay rate.

The credit repair range allows the society to support borrowers with past credit issues, including discharged bankrupt from day one, existing IVAs, up to £6,000 in CCJs, active DMPs older than six months with satisfactory conduct, previous repossessions over two years old, and defaults as recent as four months ago.

Mansfield Building Society intermediary sales manager Tom Denman-Molloy says: “We are proud to introduce this long-term fixed-rate option for our Credit Repair borrowers. By enabling affordability to be stressed at the pay rate, we’re offering long term stability and a more accessible path for those who may have faced credit challenges in the past.”