The range will be distributed through packagers, including em-financial, Solent Mortgage Services, and The Finance Centre.
The range of exclusive fixed rate mortgage products, covers near-prime, extra light, light, medium and heavy adverse credit mortgages. As part of the range, Spectrum Lending has introduced extended adverse levels.
The portfolio will also allow both full status and true self-certification options for house purchase, remortgages, buy-to-let and right-to-buy. The enhanced product range also includes house-to-house and bankruptcy annulment products.
For self cert, Spectrum will offer an income multiple of up to four times across all loan-to-values (LTV), while first-time buyers can self cert up to 90 per cent. An affordability calculator has been launched for full status cases.
In addition free valuations are available on all applications and apply to all products.
A spokesperson for Spectrum Lending, said the product design was based on market and client needs. “The new Spectrum portfolio is supported by on-site lender underwriting, allowing cases to be individually reviewed and assessed. This gives brokers a product and service proposition that is truly centred on the needs of their clients.”
Andy Pratt, chief operations officer at Alexander Hall, commented: “Moves towards affordability are very positive move and something a lot of lenders are looking to do. If its rates are competitive it should do well.”
