Pink Home Loans has launched an on-track product range in association with Freedom Lending.
The on-track range is designed to get borrowers back to a prime rate and covers light to heavy adverse.
Opening rates start from 5.94% and will reduce by 0.10% every six months, subject to payments being made, until the lifetime tracker rate of Bank of England base rate plus 0.84% (full status) or base rate plus 1.14% (self0cert) are reached.
Freedom products also include free legal fees for remortgages.
Dev Malle, sales director at Pink Home Loans, says: “This product offers another option to intermediaries who want to get their clients back on track. The rates are competitive and the pay rate will gradually reduce to a prime rate subject to payments being made.
“Individuals who are currently looking to remortgage will also benefit from free legal fees. This is a genuine credit repair product.”
Mark Elden, product manager at Freedom, adds: “The on-track range offers unbeatable value on a true cost basis and is ideal for borrowers who have had a credit problem, but are now working back towards a prime rate.
“Whilst virtually all sub-prime products revert to a high underlying rate, even where the account has been well conducted, on-track does the opposite, reverting to a very competitive lifetime tracker rate.”