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First National Mortgage Company – Fresh Start 60

Thursday, 9th November 2000.



Type: Tracker mortgage.




Tracker term: Term of mortgage.




Tracker rate: Standard variable rate plus 1.25 per cent or 1.75 per cent for self-certification. Standard variable rate plus 1.25 per cent reduces by 0.5 per cent after each 12 months of continuous payments for the first two years, then 0.25 per cent for the third year. Standard variable rate plus 1.75 per cent reduces by 0.5 per cent after each 12 months of continuous payments for the first three years.




Minimum loan: £25,001.




Maximum loan: Up to 60 per cent of valuation subject to a maximum of £500,000 for employed and £250,000 for self-certification.




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




Arrangement fee: None.




Redemption fee: Four per cent of outstanding balance in year one, three per cent in year two, two per cent in year three. Thereafter one months&#39 interest until end of term if one months&#39 notice not given.




Conditions: Three months&#39 free accident, sickness and unemployment insurance.




Introducer&#39s fee: Subject to negotiation.




Tel: 01494 459100.


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