Blemain Finance has made changes to its product range and criteria following feedback from its broker partners.

Now, only the customer’s last 12 months credit record is assessed to determine the cheapest rate and highest loan to value they can qualify for.

Blemain Finance launched its lowest ever interest rate three months ago, but this has now been surpassed with a new lowest ever rate of 9.45% as part of its enhanced criteria changes released on February 5. Other plans have also seen a reduction in rate of up to 0.59 percentage points.

Loan to values have been increased for certain property types, such as bungalows, ex-council houses, flats and maisonettes.

Valuation by-pass schemes have been enhanced so that fewer cases will require a full valuation, saving costs, improving processing time and conversions rates for brokers, Blemain believes.

Gary Bailey (pictured), sales director of Blemain Group, said: “Our passion is to grow together with our broker partners. We always look to respond to the customers, brokers and market needs in our product development strategy. We have a strong appetite to continue increasing our lending volumes and we can only achieve this by working closely with our broker partners.

“Blemain Finance’s award winning product range is the result our strong pedigree of continual innovation and we hope to be announcing further changes later this year.”