Mansfield Building Society has launched its Credit Repair proposition to help borrowers get their finances back on track.

The new product range is designed for borrowers who have experienced past credit problems resulting in missed payments, defaults, county court judgements and even bankruptcy, as well as those currently seeking relief through active debt management plans.

The new Credit Repair proposition can be accessed from two new products up to 70% loan-to-value (LTV). Offering either a two-year fixed rate at 7.99% or a two-year discounted rate at 1.40% below SVR (currently 7.49% variable), both products have no completion fee.

Mansfield Building Society, intermediary sales manager Tom Denman-Molloy commented: “Our Versatility range has been a terrific success. We’ve been monitoring feedback from brokers as well as how borrowers have responded through the product life cycle, and we can see just how well our flexible approach helps borrowers that don’t fit the high streets’ tick box mentality.

He added: “The introduction of our new Credit Repair range allows us to extend our approach into a population of underserved borrowers that really need a helping hand currently.”