Amber enhances criteria

Enhancements include increasing the maximum laon-to-value (LTV)/loan amount scale to: up to 80 per cent LTV – up to £500,000; 85 per cent LTV - £400,000; 90 per cent LTV - £350,000; 95 per cent LTV - £300,000.

The maximum loan amount for first time buyers is no longer restricted to £200,000. FTBs can now borrow in accordance with the standard maximum advances above.

Changes have also been made to Amber’s Adverse Buy-to-Let products which now allows up to two missed mortgage payments in the last 12 (0 in the last 6) as well as up to £3000 current CCJs. CCJs and Defaults (except mortgage defaults) are ignored if over three years old or if satisfied for over one year.

Mike Perry, associate director sales and marketing at Amber, commented: “These improvements to our maximum loan amounts and Adverse Buy-to-Let criteria make our product offering for intermediaries even more competitive. The alterations are based upon feedback we received from intermediaries regarding enhancing our range further.”

The Super Heavy Adverse range is now available up to 85 per cent LTV full-status and 80 per cent LTV Self-Cert. Three-year fixed rates start from 7.49 per cent. This is a “one-time credit repair” range and no adverse to adverse re-mortgages will be accepted. Repossessions and unlimited CCJs, defaults, and missed mortgage payments, discharged bankruptcy, and satisfactorily conducted Individual Voluntary Arrangements (IVAs) are all acceptable on this range.