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A&L caps for three and five years

Alliance & Leicester


CAPPED RATE MORTGAGES


Capped terms: Until October 1, 2001 or 2002.


Capped rates: Three year – loans up to 80 per cent of valuation – 6.35 per cent, loans up to 90 per cent of valuation – 6.5 per cent or loans up to 95 per cent of valuation – 6.6 per cent. Four year – option one – loans up to 80 per cent of valuation – 7.7 per cent, loans up to 90 per cent of valuation – 7.8 per cent or loans up to 95 per cent of valuation – 7.9 per cent. Option two – loans up to 80 per cent of valuation – 6.55 per cent, loans up to 90 per cent of valuation – 6.65 per cent or loans up to 95 per cent of valuation – 6.75 per cent.


Minimum loan: £20,000.


Maximum loan: Up to 95 per cent of valuation.


Income multiples: First time buyers – 3.25 times principal income plus second or 2.75 times joint. Other borrowers – for loans up to 75 per cent of valuation – 3.75 times principal income plus second or three times joint, 75 to 95 per cent of valuation – 3.3 times principal income plus second or 2.75 times joint.


Arrangement fee: 0.5 per cent of loan up to a maximum of £300.


Redemption fee: Three year – nine months&#39 gross interest until October 1, 2000 and then six months&#39 gross interest until October 1, 2003. Four year – option one – nine months&#39 gross interest until October 1, 2000 and then six months&#39 gross interest until October 1, 2002. Option two – nine months&#39 gross interest until October 1, 2000 and then six months&#39 gross interest until October 1, 2005.


Conditions: None.


Introducer&#39s fee: £100.


Tel: 0345 108108.

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