Hinckley & Rugby Building Society has announced a partnership with mortgage packager Complete FS, to extend the reach of its flexible mortgage products.

Hinckley & Rugby’s Flex range underpins the Society’s tailored mortgage products, which are all manually underwritten.

Laura Sneddon (pictured), head of mortgage sales at Hinckley & Rugby, said: “Complete FS specialises in the distribution of products to a client demographic that perfectly suits our product range, particularly because they have a strong understanding of complex income and credit scenarios.

“Complete FS is the first packager to be appointed to our corporate partner panel, which comprises those intermediary channels that work closely with the Society and share our passion for solution-based lending to support an ever-changing customer landscape.”

Damian Cain, director of Complete FS, added: “This partnership has been some months in the making, but we knew after our first meeting that Hinckley & Rugby would be a valuable addition to our panel. Their positive attitude to real-world lending and a willingness to listen and understand individual customer needs, is very refreshing.

“We are delighted and flattered to be chosen as Hinckley & Rugby’s first packaging partner; they recognise our commitment to quality, and this recognition is the type of award that we value the most.”

Two exclusive mortgage products have been launched to support the partnership: a five year fixed Credit Flex mortgage, and a two year discounted Specialist mortgage.

Credit Flex is for first and next time buyers, and for people who are seeking to remortgage. It is designed to help people who are suffering the fallout of adverse credit. In addition to missed priority debt repayments, the Society considers borrowers with a history of CCJs, IVAs, and even bankruptcy.

The Specialist product supports people who have a challenging combination of adverse credit and non-standard income requirements. It additionally features a x5.5 multiple for non-standard income patterns, including the self-employed, with no minimum income requirement.

The Society’s partnership with Complete FS comes at a time of increased focus within the mortgage sector on solutions for clients with adverse credit.

Jack Jordan, assistant product manager at Hinckley & Rugby, added: “Eight months ago, Which? reported that 700,000 households had missed their rent or mortgage payment in the previous month, and all of us in the industry are aware of the continuation of that trend into 2024.

“Not only that, missed credit payments is one of the most-searched terms by brokers. This partnership aims to meet the new year’s biggest mortgage challenges head-on, with deal-closing solutions.”