Pink On-Track range launched

The new Pink On-Track product range has been launched and is designed to cover borrowers in the light to heavy adverse spectrum.

Customers receive an opening rate of 5.94 per cent, which is reduced by 0.1 per cent every six months.

This continues, as long as repayments are met monthly, until the lifetime tracker rate is reached.

For the self-cert mortgage this stands at the Bank of England (BoE) base rate plus 1.14 per cent. For the full status mortgage it stands at the BoE base rate plus 0.84 per cent.

Dev Malle of Pink Home Loans said these rates were "competitive" and that the Pink On-Track range was a "genuine credit repair product".

Meanwhile, those wishing to remortgage with the Pink On-Track range will also benefit from free legal fees.