SMS adds Melton Mowbray near prime range

Solent Mortgage Services now offers a near prime range from Melton Mowbray Building Society’s intermediary arm MBS Lending.

Products are aimed at the near prime to medium adverse market with a maximum LTV of 50%. Variable rates start at 7.50% based on Melton Mowbray’s current SVR of 6% and will suit cases from clients with past arrears, CCJ’s and discharged bankruptcy.

Ian Balfour, chief executive officer of SMS, says: “We are delighted to be in partnership with the Melton Mowbray and be able to offer products which address the needs of intermediaries with clients who have had a struggle in the past but are able to service a new mortgage successfully.

“These products will go some way to showing the market that the intermediary channel really is alive and kicking.”