The exclusives are all two-year fixed products based on the current Rooftop core range, but with a reduction in rates. There are seven products available in total, with six of these being residential, split between full status and self cert, whilst the seventh is a Buy-to-Let Portfolio scheme.
Rates for the residential products start from 5.69 per cent fixed for two years and there are no extended tie-ins on any of the products. The Early Repayment Charge (ERC) for all schemes is 6 per cent for two years, thereafter 1 per cent or four weeks notice. Loans are available up to 90 per cent Loan To Value (LTV) for both purchase and remortgage on all the residential products, and the adverse credit allowed on each varies between very light and light combi.
The light combi status scheme has a two-year fixed rate of 5.95 per cent and offers full status loans of up to £1 million (subject to LTV restrictions) as well as income multiples of up to 5 + 1 or 3.5 x joint. Up to four CCJs with a total value of £1,000 are acceptable, as are arrears of one missed in the last 12 months (subject to none being missed within the last 3 months). Additionally, a past Individual Voluntary Arrangement (IVA) or bankruptcy will be allowed providing that it is completed or discharged over 36 months ago.
The Buy-to-Let Portfolio product provides a facility for current Buy-to-Let landlords to borrow up to £3 million with no restriction on the number of new properties purchased. This scheme can be utilised for both purchase or remortgage up to 85 per cent LTV and does not require proof of the anticipated rental amount. The two-year fixed rate is 5.95 per cent and further features of this product include the availability of the scheme to ex-patriates (maximum 80 per cent LTV) and the allowance of up to a 5 per cent builder’s deposit. Adverse credit including historic CCJs, arrears, IVA and bankruptcy are all permitted subject to certain restrictions.
John Smith, sales and marketing for GHL Group, said: "We have a very strong and successful working relationship with Rooftop Mortgages and we are constantly looking at ways to improve the level of business we provide them. We are therefore delighted to have been given the opportunity to promote these fantastic products and we are certain that these will prove highly popular amongst our network members and Directly Authorised brokers."
