Rooftop launches capped self-cert for heavy adverse borrowers

Non-conforming lender Rooftop Mortgages is launching a limited edition heavy adverse, self-cert mortgage up to 75% LTV.

There has been a flurry of light adverse capped rate launches into the market recently and the Rooftop product is specifically tailored to meet the needs of the heavy adverse sector, including unlimited arrears and CCJs.

The product is capped at 6.99% for three years.

There is no self-cert or remortgage loading on the product and sub-prime to sub-prime borrowers do not need to provide proof of mortgage payments.

Early repayment charges of 6% for three years apply and 1% or four weeks notice thereafter.

Alison Beech, sales and marketing director at Rooftop Mortgages, says: “The light adverse borrower is well provided for at the moment in product terms.

“However, there has not been the same clamour to cater to the needs of the heavy adverse borrower so we felt it was time to plug that gap.”