The move strengthens its sub-prime proposition, ensuring that it can continue to places cases for a wide variety of borrowers in the non-conforming sector.
Andrew Hood, sales director at New Deal Finance, said: “As a packager, we have seen a tightening of criteria across the board over recent weeks and much of the correction is long overdue. However, I believe strongly in the need to provide mortgages for those unable to borrow from traditional high street lenders.
“Current turmoil in the market has highlighted the challenges this involves and the need more than ever to adopt a responsible approach. Our decision to appoint Amber and Advantage, following in-depth discussions with a number of lenders, is a reflection of our shared values and the excellent support they provide that enables us to offer the best service to our customers.
“Our newly appointed lenders operate in partnership with our team and their manual approach to underwriting ensures that all factors relevant to clients’ circumstances are considered. What’s more, direct access to their underwriters and daily contact with their sales teams means that we are fully informed of the latest products and criteria, which is essential in today’s market where the situation can change overnight.
“As a result, we are in a strong position to help a wide variety of borrowers in the non-conforming sector; for example, those who have been self-employed for short periods, home owners facing repossession from their current lender and those seeking to consolidate debts.”
