Recent days have seen many sub-prime lenders responding to the instability in the US with frantic re-pricing, or the complete withdrawal of entire sub-prime product ranges.
Despite this market turbulence, Amber will maintain its commitment to providing competitive fixed rate products across the sub-prime market at the present time.
In addition, Amber has recently enhanced its Unlimited Adverse product range, increasing the maximum loan to value acceptable from 80 to 85 per cent.
This comes at a time when other lenders have been seen to be increasingly fastidious with their underwriting criteria and checks, particularly at the heavier end of the sub-prime market.
Gordon Jolly, managing director of Amber, said: “Many sub-prime lenders have taken the decision to protect their own interests, rather than maintain their commitment to intermediary business partners in the face of the threat that the US sub-prime crash has brought. Amber is sticking with our current fixed rates across our sub-prime ranges, including our unlimited adverse products.”
