"Brokers said what they really need right now is Help to Buy products for people who have impaired credit, complex income or are self-employed."
The products are available to the whole of market across its 'Real Life' categories one to six, have a maximum LTV of 75%, and include a free valuation.
Initial rates, which are available for self-employed and complex income borrowers, start at 3.77% for a two-year fix and 4.20% for a five-year fix at 75% LTV.
The scheme is available to qualifying first-time buyers of new build properties where the developer is a registered Help to Buy home builder.
Steve Griffiths, sales and product director at The Mortgage Lender, said: “After relaunching our residential range a couple of weeks ago brokers said what they really need right now is Help to Buy products for people who have impaired credit, complex income or are self-employed.
“We’ve built a reputation as a lender that is able and willing to assess each borrower on their individual circumstances and that has never been more important than it is now given the impact the pandemic has had on people’s finances.
“We’re delighted we’ve been able to act quickly and launch Help to Buy within weeks of returning to residential lending with our core product range.”
Vikki Jefferies, proposition director at Primis Mortgage Network, added: “I am confident that today’s news will be met with open arms by brokers. Younger borrowers have been significantly impacted by the Covid-19 pandemic, and greater support for this community will be crucial to helping them achieve their financial milestones in the months and years to come.
“Expanding into the Help to Buy market will further enable The Mortgage Lender to help advisers serve the demand from first-time buyers both during the pandemic and beyond – ensuring that for a growing number of non-traditional borrowers, financing is within reach.”
