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Commercial Union aims its fixed rate at the Self-employed

Commercial Union


FIXED RATE MORTGAGES


Type: Fixed rate self-certification mortgage for the self-employed.


Fixed terms: Until June 1, 2001 and September 3, 2003.


Fixed rates: 7.49 per cent or 7.65 per cent respectively.


Minimum loan: Three year – £25,001, five year – £50,000.


Maximum loan: Three year – up to 80 per cent of valuation subject to a maximum of £250,000, up to 85 per cent of valuation subject to a maximum of £150,000. Five year up to 90 per cent of valuation subject to a maximum of £250,000.


Income multiples: 3.5 times principal income plus second or 2.75 times joint.


Arrangement fee: Three year – £299, five year – £250 plus £50 booking fee.


Redemption fee: Three year – five months&#39 gross in first four years. Five year – six months&#39 interest until September 3, 2004.


Conditions: None.


Introducer&#39s fee: Three year – 0.5 per cent of loan up to a maximum of £500. Five year – £250.


Tel: 0345 959862.

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