This is an important clarification: Amber Homeloans Limited no longer offers new mortgages.
It was a specialist, intermediary-only lender and a subsidiary of Skipton Building Society. Amber Homeloans ceased new lending in 2008.
The company still technically exists as a private limited company and subsidiary of Skipton, but it is a dormant or non-trading entity in terms of new business. Its existing mortgage portfolio (loan book) has been managed by Skipton Building Society and parts of it have been sold off over the years.
In 2021, Skipton Building Society announced that it would bring the remaining mortgage prisoners from its subsidiaries, including Amber Homeloans, into full membership, allowing them to access Skipton's remortgage products, subject to affordability.
You will find a historical review of the lender of the lender here but you can search for the best alternatives to Amber Homeloans by using our free mortgage-sourcing tool below:
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Amber Homeloans: A Historical Review
Amber Homeloans Limited was a specialist mortgage lender in the UK, founded in 1993. It operated as a subsidiary of Skipton Building Society and was known for its focus on the intermediary-only market.
This means Amber Homeloans did not offer mortgages directly to the public; its products were exclusively available through mortgage brokers and packagers. It was a key player in the "specialist" lending space, often catering to borrowers with more complex circumstances, such as adverse credit.
About Amber Homeloans' Legacy
Amber Homeloans was an active lender during the 1990s and 2000s, a period of high growth in the specialist mortgage market. As an intermediary-only lender, it built its business on providing products for borrowers who might not have fit the standard criteria of high-street banks. Its administration was handled by Homeloan Management Limited (HML).
What Happened to Amber Homeloans Mortgages?
Amber Homeloans is no longer an active lender and does not offer any new mortgage products.
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Ceased Lending: Amber Homeloans stopped all new lending in 2008 during the global financial crisis, which saw many specialist lenders withdraw from the market.
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Acquisition/Ownership: The company was and remains a subsidiary of the Skipton Building Society Group.
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Existing Mortgages: For many years, the existing Amber Homeloans mortgage book was managed as a "closed book" by Skipton Building Society. This meant that while customers continued to make payments, they were often "mortgage prisoners," unable to switch to new deals as the lender was no longer active.
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Sale of Portfolio: In 2017, Skipton Building Society sold a significant portfolio of mortgages (around 1,600) from Amber Homeloans and another subsidiary to a global investment firm.
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Support for Mortgage Prisoners: In 2021, Skipton Building Society took a significant step by announcing that the remaining customers of its closed subsidiaries, including Amber Homeloans, would be brought into full membership of the society. This was intended to give them access to Skipton's standard remortgage products, offering a pathway off their old, often expensive, rates (subject to affordability checks).
Similar lenders to Amber Homeloans
Amber Homeloans was known for offering specialist or "sub-prime" mortgages, catering to borrowers with less-than-perfect credit or complex income profiles, which was a common offering before the 2008 financial crisis.
While the market has changed significantly, the lenders most similar to Amber Homeloans in terms of product type today are those who specialise in complex or non-standard lending, as opposed to mainstream high-street banks.
Lenders currently operating in the specialist and complex mortgage space include:
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Aldermore - They are known for their flexible approach to income, affordability, and credit history for residential mortgages.
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Precise Mortgages - A specialist lender offering a variety of residential and buy-to-let products, often for cases that fall outside mainstream criteria.
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Kensington - Often cited as a specialist lender for borrowers with complex circumstances.
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United Trust Bank (UTB) - Provides specialist lending, including residential and bridging finance.
For borrowers needing a flexible approach due to adverse credit, self-employment, or non-standard property, these specialist lenders are typically the closest modern equivalent to the type of services Amber Homeloans provided.
How to Apply for a Mortgage (Not Possible)
You can no longer apply for a new mortgage with Amber Homeloans.
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Existing Customers: If you have a mortgage that originated with Amber Homeloans, your account is managed by Skipton Building Society. You should contact Skipton to discuss your options, as you may be eligible to switch to one of their current mortgage products.
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New Customers: If you are a new borrower, you will need to apply to an active lender.
Make an enquiry here to book a free, no-obligation chat with a mortgage broker who can explore the best alternatives to Amber Homeloans with you and help you find your ideal solution.
