For a limited period only it will offer free valuations across its entire adverse product range. The offer will run until December 31st and will be available on market leading products such as:
Abacus Future 100 per cent
~ 5.08 per cent Two yr LIBOR
~ No overhang
~ No MIG
Abacus Synergy 90 per cent SC Two yr fixed (funded by MPLC)
~ 6.30 per cent Two yr fixed
~ No overhang
~ Self-cert
~ Up to 90 per cent LTV
Abacus Rooftop 90 per cent SC stepped light
~ Stepped light (initial payrate 5.07 per cent)
~ No overhang
~ No MIG
~ Available for FTB's Remortgages
~ Self-cert
~ Up to 90 per cent LTV
Abacus Victoria
~ Rates from 4.62 per cent (dependant on LTV adverse)
~ Non-standard construction types considered
~ 5 x joint income multiple
Abacus Rooftop Heavy adverse 70 per cent SC Remortgage
~ 5.58 per cent (2 per cent discount) one yr
~ Three yr ERP
~ Sub-prime to sub-prime re-financing with unlimited arrears (no reference required)
~ Self-cert
~ Up to 70 per cent LTV
Marc Turner, head of sales at Abacus Permanent, commented: “It is great to be in a position whereby we can offer this terrific incentive and especially on our adverse range. This will be of huge appeal to that particular area of the market in so much as it will enable customers to apply for their mortgage without being stung by a large initial outlay.”
The Abacus adverse range is funded by some of the industries top specialist lenders including Future Mortgages, Mortgages Plc, Platform, Preferred, Rooftop and Victoria Mortgages.
Anticipating the success of the offer Paul Hunt, head of marketing at Platform, commented: “Such an initiative is great news for borrowers and we are delighted that Abacus are launching this offer across our range of products. With non-conforming two-year fixed rates with no early repayment charge overhang starting from 5.75 per cent plus a free valuation, we expect Abacus to receive a lot of interest from intermediaries.”
Rooftop’s sales and marketing director, Alison Beech, added: “Upfront costs for the adverse remortgage market are often a concern for borrowers and intermediaries. Rooftop’s range boasts unlimited heavy adverse products with no proof of mortgage payments required, even when remortgaging from a sub-prime lender, including a capped rate at 6.99 per cent for three years. I’m certain this free valuation offer will complement these products and be of significant interest to introducers.”
