UK finance group Leeds Building Society has introduced a new lending channel to specifically meet the needs of consumers who find it difficult to obtain a suitable mortgage arrangement from larger lenders due to historic financial difficulties they may have previously encountered.
The new service, Leeds Lending Solutions, will be available throughout the UK and will consider a range of circumstances including customers with county court judgments (CCJs), mortgage or rent arrears, defaults, bankruptcy or individual voluntary arrangements (IVAs).
There are a number of people who have had their credit ratings detrimentally affected as a result of divorce or separation, said Kim Rebecchi, general manager of sales at Leeds. We are also well aware of the statistics regarding the incidence of divorce in the UK and this, together with the increasing levels of personal debt, means that more and more people could experience problems over the coming years.
Leeds Lending Solutions will be administered by a team of experienced and professionally qualified mortgage advisors to discuss individual customer’s specific circumstances to ensure they receive appropriate advice and the most suitable product for their needs. As part of this regulated process, customers will also receive key facts illustration clearly outlining the terms and conditions of the product.