Amber Homeloans is relauching the light and medium advernse full status mortgage products range with increased discounts off the pay rates.
The mortgage product is alos being relaunched to offer a 1 per cent discount for 12 months from completion.
Defaults are ignored on these products as can CCJs if over three years old or if satisfied for over one year.
The light adverse full status is available up to 90 per cent LTV, SVR +0.75 per cent with a 3 per cent discount up to Apri 30th 2007 with initial pay rate of 4.59 per cent. An unlimited number of CCJs are acceptable up to the value of 3000 on this product. Up to 2 months missed mortgage payments within the last 12 months, however 0 missed in the last 6 months.
Medium Adverse Full Status is available up to 85 per cent LTV, SVR + 0.75 per cent with a 2.5 per cent Discount until April 30 2007 initial pay rate of 5.09 per cent. An unlimited number of CCJs are again acceptable up to the value of 7500 on this product. Up to 3 months missed mortgage payments within the last 12 months, however 1 missed in the last 6 months.
Bespoke has a 1 per cent discount for 12 months from completion off the 3 month LIBOR rate (currently 4.85 per cent) plus menu-driven loading for any adverse history. Available up to 85 per cent LTV.
Amber associate director of sales and marketing Mike Perry says: “We are very happy to be further increasing our competitiveness in the market. Also, the move to a 12 month discount period on Bespoke product will offer the intermediary increased flexibility, ensuring that all borrowers benefit from the full 12 months discount.”