The enhanced products are a one year 1.60 per cent discount now until 1 October 2003, an 18 month 1.75 per cent discount until 1 February 2004 and a two year 1.50 per cent discount until 1 August 2004, all of which are available across the range.
The range offers a number of both full status and self-certification schemes that cater for clients that have had a history of adverse credit including CCJs, defaults, arrears, bankruptcy, IVAs and past repossessions.
Full status schemes are available to 95% LTV and self-certification to 90% LTV for both employed and self-employed clients, including first time buyers.
Nigel Gardner, operations director for Genesis Home Loans said; “We are delighted with the changes we have been able to make to our discount products. It now means we can offer our brokers and their clients the choice of not only the ‘normal’ one year discount associated with adverse lending, but also two extended options usually reserved for standard clients.”
The products give initial pay rates of 6.25 per cent for applicants on a full status basis borrowing up to 95 per cent LTV, whilst a self-certification applicant borrowing 90 per cent LTV could pay as little as 6.50 per cent.
Amendments have also been made to the discounted rate options for Genesis Gemstones, Jade and Pearl, which now see the end dates extended to 31 December 2003 from 30 June 2003.
The Gemstones range now offers discounted rates from 5.74 per cent until 31 December at 90 per cent LTV, allowing for CCJs, defaults, arrears and bankruptcy or IVA.
Jade continues to offer a 95 per cent LTV mortgage option to non-permanent employees with no higher lending fee or requirement for bank statements and discounted rates at 5.74 per cent until 31 December 2003.
Pearl also has discounted rates from 5.74 per cent until 31 December 2003 and is available up to 85 per cent LTV on a self-certification basis, for employed and self-employed clients who cannot prove their income, because they have just started their current job or business.
