Norton Home Loans has launched two new products across its first and second charge mortgage range aimed at customers with blips on their credit records.  

The deals are aimed at borrowers with a history of adverse credit or payday lending older than 12 months are eligible to apply.   

Rates on its new Optimal 1 plans start at 10.58% on five-year fixed-rate first and second charge products.    

Loan sizes between £3,000 and £250,000 are available across both product types, with a two-year fix and a five-year fix also an option on first charge and second charge mortgages.  

The firm has also cut most rates across its standard first and second charge mortgage plans.  

It points out that reductions of more than 2% has been made on certain first and second charge products, with rates on the company’s second charge A Plan now starting from 11.98%.     

Norton Home Loans head of sales David Binney says: “With inflation reaching the government’s target, a base rate reduction on the horizon and swaps stabilising since the beginning of the year this is the right time for us to start reducing rates making us more viable to our broker partners and their clients looking for an affordable solution where the rest of the market cannot assist.   

“These rate reductions and plan enhancements are the start of several other exciting improvements planned for our product, criteria and process.”