Central Trust has revised to its residential mortgage proposition, including helping customers with secured arrears, expanding the income streams it can accept whilst also bolstering its Consumer Buy-to-let (CBTL) offering.

The specialist lender has expanded its status 3 and 4 plans, enabling customers who have missed up to four secured arrears in the last 12 months but have been up to date for the last six months to be now considered up to 70% LTV.

In addition, Central Trust will now assess contractors’ income using the day rate and 48 weeks. Contractors will be required to evidence 12 months’ continuous contracting, with the existing contract renewed at least once with two months remaining on the contract.

The lender is also happy to accept 50% of non-court order maintenance as acceptable income.

Meanwhile, Central Trust has introduced a Status 2 plan to its existing CBTL offering for both first and second charges up to 70% LTV.

Maeve Ward (pictured), commercial operations director at Central Trust, said: “These improvements to our overall lending proposition are the first in a number of enhancements that we will be unveiling over the coming weeks. Our new and enhanced Status plans, together with positive changes to criteria, show how Central Trust caters for a wide range of borrowers and their diverse requirements.

“In addition, the introduction of the new CBTL plan for both first and second charge mortgages expands on our commitment to buy-to-let with further positive enhancements to be announced over the coming weeks.

“Central Trust has a long track record of helping the underserved, as well as those that need to repair and rebuild, and those who have been victim of circumstance and require a second chance. Like many lenders in the specialist market, advisers will find that we are willing to listen to the applicant’s story and apply a common sense approach to lending.”