Norton Home Loans has introduced two new Optimal plans on its first and second charge mortgages.

The plans have been designed to appeal to a wider pool of borrowers and are aimed at those customers with minor or temporary blips on their credit record.

Borrowers with a history of adverse credit or payday lending older than 12 months are eligible to apply. Rates on the new Optimal 1 plans start at 10.58% on both five-year fixed rate first and second charge products.

Loan sizes between £3,000 and £250,000 are available across both product types, with a two-year fix and a five-year fix also an option on both first charge and second charge mortgage products.

There is a maximum LTV of 75% across the entire Optimal range and terms of up to 30 years are also available.

In addition, Norton Home Loans has also reduced most rates across its standard first and second charge mortgage plans.

A cut of more than 2% has been made on certain products within the first and second charge product range, with rates on NHL’s second charge A Plan now starting from 11.98%.

David Binney (pictured), head Of sales at Norton Home Loans, said: “With inflation reaching the Government’s target, a base rate reduction on the horizon and swaps stabilising since the beginning of the year this is the right time for us to start reducing rates making us more viable to our broker partners and their clients looking for an affordable solution where the rest of the market cannot assist. These rate reductions and plan enhancements are the start of several other exciting improvements planned for our product, criteria and process.”