The scheme, with a pay rate of 4.69 per cent, is discounted until 31 August 2008 and has a 1 per cent arrangement fee. It has no early repayment charge (ERC) and no extended ERC.
In addition, there is an adverse option with a pay rate of 5.16 per cent. Both schemes are available exclusively via Optoma, for packaged business only.
Harpal Singh, operations director at Optoma, commented: "Most buy-to-lets below 5 per cent carry a 1.5 per cent arrangement fee. Not only does this undercut most pay rates, but it also has a lower fee than most. This is fantastic support from one of our most prominent lenders."
Mike Perry, associate director sales at Amber, commented: “These are very competitive products which I believe reflect the strength of Amber’s relationship with Optoma and the opportunities in the buy-to-let market.”
