The product is available only through a select group of distributors
Packager and distributor Impact Specialist Finance has launched a brand-new higher income multiple product, available only through a select group of distributors.
The product is designed for clients who want to maximise their income when purchasing or remortgaging residential properties with multiples applied of five times the annual income around £50,000, 5.5 times around £60,000, and six times around £80,000, and suitable for clients with a very good credit history.
It is available up to 85% loan-to-value (LTV) at 4.49% for purchase and 4.59% for remortgage with a 2.80% and 2.70% discount respectively from SVR until March 31, 2026. Minimum loan is £50,000 with an arrangement fee of £999. Early repayment charge is 4% until March 31, 2023, 3% until March 31, 2024, and 2% until March 31, 2026.
For remortgages, a standard valuation on properties up to £400,000 is provided, along with free standard legal fees.
Impact Specialist Finance has also recently announced a semi-exclusive expat mortgage at 90% LTV with Dudley Building Society for UK citizens living overseas.
There is now a Semi-Exclusive ExPat Mortgage available from the @DudleyBS for UK citizens living overseas with a 90% LTV.
— impact specialist finance (@impactmortgages) February 14, 2023
Applicants are not required to work for a multinational and Dudley show flexibility around income requirements.
Call us on 01403 272625 pic.twitter.com/b1A1qlfTS3
“Affordability is a challenge for many borrowers at present and so, these new products are welcomed, enabling us to offer more brokers and their clients alternative options,” Dale Jannels (pictured), managing director at Impact Specialist Finance, commented.
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