Specialist packager and distributor Impact Specialist Finance has launched a brand-new higher income multiple product.
This product is only available through a select group of distributors, which includes impact Specialist Finance.
The product is designed for clients who want to maximise their income when purchasing or remortgaging residential properties with multiples applied of 5x annual income circa £50k, 5.5x circa £60k and 6x circa £80k and suitable for clients with a very good credit history.
Available up to 85% loan-to-value (including arrangement fee) at 4.49% for purchase and 4.59% for remortgage (a 2.80% or 2.70% discount respectively from SVR until 31 March 2026). Minimum loan is £50k with an arrangement fee £999. Early repayment charge is 4% until 31/03/2023, 3% until 31/03/2024 and 2% until 31/03/2026.
For remortgages, a standard valuation on properties up to £400k is provided along with free standard legal fees.
Dale Jannels (pictured), managing director at Impact Specialist Finance, said: “Affordability is a challenge for many borrowers at present and so these new products are welcomed enabling us to offer more brokers and their client’s alternative options.”
