Amber Homeloans launches an extended range of buy-to-let products today. Its range now includes adverse criteria which allow up to 5000 CCJs, ignore all defaults and except mortgage defaults.Mike Perry, associate director of sales and marketing at Amber, says: “We are happy with this range and pleased to be extending further into the buy-to-let market, taking advantage of our sub-prime expertise.” The buy-to-let products have no higher lending charges and are linked to the three-month LIBOR. The standard buy-to-let range offers products with either no early repayment charges or a discounted rate until February 28, 2007, with initial rates of 5.58% and 4.58%. Amber has also changed its criteria for buy-to-let lending, which it says makes all its products more accessible. Only one month’s payslips are required from employed clients and if basic income is under 20,000, one month’s payslip and P60 is required. One year’s accounts are required for self-employed clients and no bank statements or rental estimates are required. Rent or expected rent must cover interest by 125% and a maximum of 10 properties is allowed per borrower, with a maximum value of 1,000,000.
Have you checked out the Financial Services Authority’s jargon-free ‘mortgages laid bare’ website yet?
The Financial Services Authority has reported a mixed result following the completion of its research and mystery shopping work on self-cert mortgages.The FSA welcomed the improvements made by lenders in the way they operate their self-cert mortgage business since the FSA issued a good practice guide in February 2004.The review work found that in general […]
The Homebuyer Show returns to the ExCeL Centre in London’s Docklands from March 17 to 19 2006.The housing market continues to make headlines and with SIPPs, HIPs, and overseas destinations on the horizon, the organisers of the show say there has never been a better time to make your move. Now in its 11th year, […]
Despite falls nationally, Knight Frank’s residential house price index registered a 1.1% rise in prime central London locations in October. Knight Frank puts the rise – the highest monthly increase since February 2004 – down to a shortage of quality stock at the upper end of the market as well as increased City bonuses and […]
By Denise Wond, Marketing Relationship Manager, Royal London Do you consider yourself lucky? I don’t; I never seem to win a prize in the raffle, if there’s a cancelled train it’s usually the one I’m meant to be on and don’t start me on last year’s holiday. On the other hand, when I think about […]
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