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Chelsea Building Society – Prospect Non-Conforming Right-To-Buy 2 Year Fixed


Prospect Non-Conforming Right-To-Buy 2 Year Fixed

Type: Adverse credit fixed-rate mortgage

Fixed term: Until April 30, 2008

Fixed-rate: 6.39%

Minimum loan: 30,000

Maximum loan: Up to 80% of valuation subject to a maximum of 500,000

Income multiples: Up to 3.75 times principal income plus second or 2.8 times joint

Conditions: Unlimited CCJs considered subject to applicant’s mortgage record, maximum of 2 missed payments in the last 12 months but no more than one in the last six months
Arrangement fee: 495

Conditions: Free mortgage payment protection insurance in first two years, free valuation, free standard legal fees for remortgages

Redemption fee: 5% of amount repaid in year one, 4% in year two

Introducers fee: Subject to negotiation

Tel: 08702 404808


Chip off the old block

As most advisers know, I am a great admirer of Close Brothers, both for its innovation and its investment expertise.

Packagers’ body aims at small firms

The newly formed United Packagers’ Association is set to cause a stir in the market by looking to recruit members from a rival group. The Mortgage Times, a founder member of the UPA, says it is not directly targeting firms from the Freehold Group but has asked its members to look at the UPA’s offering […]

Caveat empty?

More than a decade ago, when I was in my infancy as a scribe, I got to know a business journalist who had spent many years working for a variety of national newspapers. His decades of experience meant that what he did not know about the business community and how it worked was not worth knowing, he told me once, wiping foam off his top lip as we had a quick pint or three down the pub after work one evening.


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