The Mortgage Lender has made changes to its residential lending tiers and removed the underwriting cascade for unsecured arrears.

The move has been made to make it easier for brokers when dealing with customers with credit impairments.

The new residential range, which is designed for complex income, self-employed and adverse credit applicants, is available up to 85% loan to value.

Rates start at an initial rate of 2.79% for a two-year fix at 75% loan to value with an application fee of £150 and a completion fee of £1,499

In addition, its Limited Distribution Lumi range, which is available up to 75% loan to value and caters for more complex credit histories, including recent payday loans and discharged individual voluntary arrangement (IVA) or bankruptcy applicants, has three tiers. Rates start at 4.25% for a two-year fix at 75% loan to value with an application fee of £150 and a completion fee of £1,495.

Steve Griffiths (pictured), sales and product director at The Mortgage Lender, said: “Removing the cascade approach to unsecured arrears means that we will be able to offer lower rates and higher LTVs for customers with an unsecured arrears credit profile, as well as working more closely with our Specialist Distribution partners for more complex adverse credit scenarios.

“By simplifying our residential lending approach we’re responding to what our brokers say is important to them, speed of decision and certainty, while offering more solutions for borrowers who don’t quite fit high street lending criteria.”