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DB Mortgages – Heavy 1 Adverse Two Year Fixed Rate

DB Mortgages

Heavy 1 Adverse Two Year Fixed Rate

Type: Fixed-rate adverse credit mortgage

Fixed term: Two years

Fixed rate: Up to 85% of valuation – 6.85%, up to 75% of valuation – 6.5%

Minimum loan: £25,001

Maximum loan: Up to 85% of valuation subject to a maximum of £500,000

Income multiples: Up to 85% of valuation – 3.5 times principal income plus second or three times joint, up to 75% of valuation – up to 3.75 times principal income plus second or 3.25 times joint

Conditions: Up to £10,000 in CCJs acceptable, maximum four missed payments in last 12 months but no more than two in the last six months discharged bankruptcy acceptable, IVAs acceptable if satisfactorily conducted for at least 12 months, repossessions acceptable if more than 36 months ago and no debt outstanding

Arrangement fee: £599

Redemption fee: 6% of the mortgage balance in first two years

Introducer’s fee: Refer to lender

Tel: 0845 052 2280


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