Type: Fixed rate mortgages for the buy-to-let market.
Fixed terms: Until February 1, 2002 and June 1, 2008.
Fixed rates: 7.59 per cent or 6.99 per cent respectively.
Minimum loan: £25,001.
Maximum loan: Self certification – up to 75 per cent of valuation subject to a maximum of £150,000. Full status – up to 85 per cent of valuation subject to a maximum of £150,000.
Income multiples: 3.25 times principal income plus second or 2.5 times joint plus 50 per cent of gross rental income and 9 per cent of existing mortgage balanced deducted from income before applying multiple.
Arrangement fee: £499.
Redemption fee: Three year – four months' gross interest in first four years. 10-year – four months' gross interest in first 10 years.
Conditions: Life cover required but not assigned. Single property only and no holiday homes.
Introducer's fee: Varies depending on member.
Tel: 01832 272705.