Tipton & Coseley Building Society has added a second tier to its Credit Plus range, extending the adverse credit mortgage offering to borrowers with more complex credit histories.
Credit Plus launched in 2025 to serve applicants outside the society's mainstream criteria due to minor past credit issues. The new Tier 2 broadens that reach, covering borrowers who have experienced arrears, late payments, County Court Judgments, Debt Management Plans, and defaults.
Residential purchase rates for Tier 1 start from 5.47% on a two-year discount at 80% LTV, with a £1,499 fee. The Tier 2 equivalent is priced at 5.84% with a £999 fee. Both tiers carry a two-year fixed rate option at 80% LTV, and remortgage products are available across the range.
The society underwrites each case manually, considering overall financial circumstances rather than isolated credit events.
Andy Millard, head of mortgage distribution at Tipton & Coseley Building Society, (pictured), said: "Across the UK, applicants' credit histories are becoming increasingly challenged due to rising living costs.
"Not every client fits the standard mould, however this shouldn't exclude them from pursuing their homeownership goals. Nor should it leave them solely reliant on specialist adverse credit lenders, where product pricing is often prohibitive.
"At the Tipton, we manually underwrite each case and take a bigger picture approach to our lending. We look beyond single blips or incidents and factor in people's overall financial circumstances when making our decisions.
"With broader criteria across Credit Plus and distinct product tiers, we're ready to assist more borrowers in this market segment and help brokers in presenting competitive choices to their clients."
