The Mortgage Lender has launched a new range of Lumi-branded residential mortgage products.

The new products are available at up to 75 per cent LTV and rates for a two-year fix start at 4.98 per cent and, at 70 per cent LTV, 5.29 per cent for a five-year fix.

The minimum loan is set at £25,001 and the maximum at £1m.

Lumi products are designed for employed and self-employed borrowers and people with complex income who may have defaults, CCJs and arrears in their financial history.

The Mortgage Lender sales and product director Steve Griffiths says: “Now more than ever lenders need to have criteria that caters for a wide range of customer circumstances and recognise that the last 12 months has been financially difficult for many people.”