Amber launches adverse mortgage range

Amber Homeloans Limited has launched a new range of light, medium and heavy adverse mortgages.

The loans enhance both the existing full status and self-certification ranges and offer brokers new fixed rate and LIBOR-linked options.

The new range includes four light adverse mortgages with rates from 4.53%, four medium adverse mortgages with rates from 5.03%, and four heavy adverse mortgages with rates from 5.53%.

The full status products are suitable for borrowers who intend to provide evidence when declaring their income, with self-cert clients able to obtain loans with minimal verification of income.

Amber’ full product range is available via a select group of mortgage packagers and panels including Network Mortgages, SP Mortgages, Mortgage Intelligence, Exclusive Connections, Genesis, MPS, Pink Homeloans, DBS Members, Homeloan Partnership, Homebank, Reeds Rains, Network Data, Mortgage Direct, IMA, Connells, Optima, and Preferred Mortgages.

Mike Perry, head of sales and marketing at Amber Homeloans, says: “For the first time, Amber has launched a full range of light, medium and heavy adverse products. Our previous light and medium adverse range proved very popular and, by separating the categories, borrowers with minor credit problems can now receive an even more attractive rate.

“The new range will enable brokers to offer customers in the non-conforming market the option of full status or self-certification and fixed rate or LIBOR-linked mortgages.”