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Exclusive Connections launches three year cap


Mortgage packager Exclusive Connections has launched a three-year capped-rate loan.


The rate is capped at 5.37 per cent for loans up to 95 per cent loan to value until July 1, 2002.


The loan is funded by Bristol & West and carries a £299 arrangement fee.


Redemption penalties are 4.5 per cent in the first two years, 4 per cent in year three, 3.5 per cent in year four and 3 per cent in year five.


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


A procuration fee of £500 is available.

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