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Lenders eye adverse credit niche; Mortgage providers are homing in on people with a poor credit history now a growth sector. Amber Homeloans has joined the rush with a Libor tracker weighted to reflect the level of risk.
- Article from:
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Financial Adviser
- Article date:
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January 30, 2003
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Lisa Bowman
lisa.bowman@ft.com
LENDERS are making it easier for those with poor credit histories and those who need to be sensible with savings to obtain a mortgage.
Amber Homeloans has launched a full-adverse, menu-driven mortgage intended to help brokers whose clients have poor credit histories.
The Bespoke Mortgage rate is based on the London interbank borrowing rate, currently 4.03 per cent, with additional loading depending on risk.
There is a 1 percentage point discount until 30 April 2004 and loans are available up to 85 per cent loan-to-value between GBP25,000 and GBP500,000.
Capital repayments of up to 10 per cent of the balance of the ...