This allows applicants to benefit from the recently increased loan to value (LTV) of 85 per cent and also can now take advantage of fees assistance in the form of a free standard valuation and a £250 cash back which will be paid upon completion.
Chris Smith, new business manager at Optoma, commented: "We have seen many lenders starting to tighten their criteria and increase their rates due to current market conditions, making this a real standout at present and we feel the addition of the free valuation and cash back will only act to increase interest."
Amber has enhanced its unlimited adverse product range, increasing the maximum LTV acceptable from 80 per cent to 85 per cent. This comes at a time when other lenders have tightened their underwriting criteria and checks, particularly at the heavier end of the sub-prime market.
Gordon Jolly, managing director of Amber, said: "Many sub-prime lenders have taken the decision to protect their own interests, rather than maintain their commitment to intermediary business partners in the face of the threat brought by the US sub-prime crash. We are happy to confirm that we are sticking with our current fixed rates across our sub-prime ranges, including our unlimited adverse products."
