Mike Perry, associate director sales and marketing at Amber commented: “This liberal product range provides intermediaries with a selection of competitive options for clients with a large amount of adverse credit history.”
The product range is Higher Lending Charge free, offers both full-status and self-certification options for consumers and a 1% discount until 31st October 2006. Initial pay rates start from 5.33% for full status and 5.48% for self-cert (65% LTV). The range comprises products in several different LTV levels, up to an overall ceiling of 85%LTV.
Procuration fees up to 1.00% are payable, subject to a maximum of £5000 for direct applications. The range is linked to Amber’s 3-month LIBOR rate, which has recently been reduced to 4.58%.
Mike Perry added: “The addition of the Heavy Adverse products to our range provides intermediaries with a wide choice of options for their clients. I hope that the Heavy Adverse mortgages will complement our attractive selection of existing adverse products. Our full complement of mortgages provides a one-stop solution for all adverse requirements.”
