As well as accepting clients with current arrears with their existing lender, the loans also include a free valuation, no legal fees associated with the mortgage for re-mortgages and no High Lending Charge. The completion fee, which can be added to the loan, is £995. Self-certification is also available.
The light adverse loan starts at 6.89% and will lend up to 90% loan-to-value (LTV) and will accept up to two months current arrears and £4,000 County Court Judgements (CCJs). The medium adverse, which accepts up to three months current arrears and £7,000 CCJs, will lend up to 85% LTV and has a rate of 6.99%. The heavy adverse product has a rate of 7.29% and again lends up to 85% LTV, but will accept up to four months current arrears and £10,000 CCJs.
Commenting on the products, Gavin Treacy, head of sales for Abacus Permanent, said: “Abacus and Future Mortgages are both committed to providing brokers with the products they need and the level of service they deserve.”
Mark Beddows, key account manager at Future Mortgages, commented: “We are glad to be able to compliment our core product range with this exclusive offering backed by excellent service from our on-site underwriter at Abacus.”
