LIBOR Discount Mortgage (Full Status)
3-Month LIBOR (currently 4.18 per cent) + 2 per cent with 1.00 per cent discount until 31 October 2004 with a current pay rate 5.18 per cent
3-Month LIBOR (currently 4.18 per cent) + 2.5 per cent with 1.00 per cent discount until 31 October 2004
Current pay rate 5.68 per cent
Fixed pay rate of 5.95 per cent until 31 October 2004
Fixed pay rate of 6.45 per cent until 31 October 2004
The Full Status products are suitable for borrowers who intend to provide evidence when declaring their income. However, borrowers are also offered a Self-Certification option on both products whereby Amber will generally accept a borrower’s declaration with minimal verification. Amber’s full product range is available via a select group of mortgage packagers and panels.
Amber, the wholly-owned specialist lending subsidiary of Skipton Building Society, is a mortgage lender in the specialist market, focusing its lending activities into four specific niche areas: light/medium adverse, self-certification, 100% loans and buy-to-let mortgages. In addition, the company purchases and sells bulk mortgage portfolios.
Gordon Jolly, managing director of Amber Homeloans, commented: “Following the successful launch of the LIBOR Discount mortgages in April, we are pleased to be able to increase the discount offered on new applications, whilst at the same time reduce the rates on the two fixed rate products. This range of loans continues to provide brokers with an excellent opportunity to help clients who have had credit difficulties in the past.”
