The range is available up to 75% loan-to-value (LTV), across four categories, catering for customers with defaults, County Court Judgments (CCJs), and mortgage arrears.
It also offers enhanced credit criteria for unsecured arrears, bankruptcy and payday loans when compared to the lender’s core range.
The Lumi products are available for employed, self-employed and complex income applicants.
The minimum loan is £25,001 and the maximum loan is £1m.
Lumi rates start at 4.98% for a 2-year fix and 5.29% for a 5-year fix at 70% LTV.
Steve Griffiths, sales and product director at The Mortgage Lender, said: “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.
“Our Lumi range, which is available through specialist distributors, takes a pragmatic approach to the real-world experience many of our broker partners are presented with when they are sourcing a mortgage for their clients.
“It offers fair rates combined with a flexible approach to underwriting that provides a stepping-stone for home-movers or those remortgaging and, in some cases, credit repair.”
