Fast-track credit repair from MPLC

Mortgages PLC is launching a mortgage which allows borrowers to repair their credit record after just 12 months. The product, which it says is the first of its kind in the UK sub-prime market, allows borrowers to remortgage without incurring onerous redemption charges. Available from November 20, MPLC says this is a major development for the adverse sector in which it is normal for mortgages to carry early repayment charges for periods of two or three years.The MPLC product offers a choice of a one-year fixed deal or a tracker with rates depending on LTV and status.