The lender will consider applicants with a current individual voluntary arrangement (IVA) without requiring them to repay it, as well as those whose bankruptcy was more than 12 months ago.
Quantum does not use credit scoring. On selected credit repair plans, it can consider county court judgments (CCJs) and defaults without a cap on their value.
The pilot covers England, Wales and Northern Ireland. Quantum will consider affordable housing schemes and offers joint borrower sole proprietor arrangements for purchases and remortgages.
It will also consider applicants who have been self-employed for at least 12 months.
Eddie Lau (pictured), broker account manager at Norton Broker Services, part of Norton Finance Group, said: “For borrowers with a complex credit history, the details of a lender’s criteria can determine whether there is a workable route to a mortgage.
“Brokers need to understand how an IVA, previous bankruptcy or arrears will be treated before progressing an application.
“Being involved at the pilot stage gives us the opportunity to work with Quantum as it introduces its residential offering.
“Its approach to credit histories and self-employment gives us further options to explore for brokers whose clients have a limited choice of lenders.”
Harsha Dahyea, chief commercial officer at Quantum Mortgages, said: “We’re looking forward to seeing the opportunities this creates and, most importantly, helping brokers find solutions for customers with more complex circumstances.”
