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First National Mortgage Company – Fresh Start 60 Discount

Monday, 26th March 2001.

Type: Discounted rate mortgage for adverse credit customers.

Discounted term: Until August 31, 2002.

Discount: 2 per cent.

Payable rate: 6.74 per cent.

Minimum loan: £25,001.

Maximum loan: Up to 60 per cent of valuation subject to a maximum of £500,000.

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

Arrangement fee: Purchase price of up to £50,000 – £145, £50,001-£100,000 – £180, £100,001-£150,000 – £220, £150,001-£200,000 – £255, £200,001-£250,000 – £290, £250,001-£300,000 – £325, £300,001-£500,000 – £450.

Redemption fee: 4 per cent of loan in year one, 3 per cent in year two, 2 per cent in year three, 1 per cent in year four.

Conditions: Unlimited CCJs and arrears.

Introducer&#39s fee: Subject to negotiation.

Tel: 020 8909 8000.



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