Chorley Building Society has updated and increased the number of ‘Credit Renew’ products available in its offering.

This comes after the society reviewed the range in line with broker feedback.

Chorley has confirmed there are now two LTV products available in each Credit Renew category, and the newly uplifted LTV products have also seen an improved discount, lowering the initial interest rate paid. The society’s Credit Renew products are split into two categories which acknowledge the differing stages that customers may be at in their recovery from life events.

The range now consists of two-year fixed rates across 70%, 75%, 80% and 85% LTV bands.

Head of business development at the society, Stuart Bryce, commented: “We understand that sometimes a client may experience a life event that impacts their credit file.

“At Chorley Building Society we offer a range of credit renew products that are available to those who have recovered from this life event, but may not meet our standard lending criteria. We have now introduced additional LTVs to further reflect the differing needs of clients.”

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