Second charge mortgage lender Optimum Credit has amended its pricing and criteria.

The lender, which offers individual pricing based on the circumstances of each customer, has made reductions across its pricing model.

It has also reintroduced options for its variable rate, discounted rate and interest only products.

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Optimum’s Near Prime range has also been reintroduced, is available to customers whose credit profile falls just outside of its prime rates, and the lender has increased its maximum loan size to £1m.

Additionally, the lender will now accept up to 50% of variable income including bonus, overtime and commission, and has lifted restrictions on previous defaults, county court judgments (CCJs) and payday loans.

Simon Mules, commercial director at Optimum Credit, said: “We hope that this launch is the start of a new chapter, it is certainly a statement of our intent to grow our lending volumes and continue to take a leading role in the second charge mortgage market.

“In order to do this, we know that we need to continue to build on our excellent reputation for responsive service and professional standards as we work hard to make second charge lending a more flexible and accessible form of capital raising for even more clients.”