Impact Specialist Finance launches semi-exclusive higher income multiple deal

This is semi-exclusively available through a select group of distributors including Impact Specialist Finance. 

Borrowers who are purchasing or remortgaging with an annual income of £50,000 can get a loan up five times their income. For those earning £60,000, an income multiple of 5.5 times income applies and those earning £80,000 a year can access loans of up to six times their income. 

A very good credit history is required. 

The product is available up to 85 per cent loan to value (LTV), including an arrangement fee, with a rate of 4.49 per cent for purchase and 4.59 per cent for remortgage. 

These are respective discounts of 2.8 per cent or 2.7 per cent from the standard variable rate. 

The minimum loan amount is £50,000 and the arrangement fee is £999. 

Early repayment charges starting from four per cent apply, and this falls incrementally by one percentage point each year of the three-year fixed period. 

For remortgages, a free standard valuation is offered on properties up to £400,000 as well as free 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.”