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First National – Near Prime One Year Discount

First National

Near Prime One Year Discount

Type: Discounted-rate adverse credit mortgage

Discounted term: One year

Discount: 1.85%

Payable rate: Up to 90% of valuation 4.84%, up to 85% of valuation 4.74%, up to 75% of valuation 4.64%

Minimum loan: 75,000

Maximum loan: Up to 90% of valuation subject to a maximum of 300,000, up to 85% of valuation subject to a maximum of 500,000

Income multiples: Based on affordability

Conditions: One CCJ in last 36 months acceptable but none in last 12 months, one rental arrear in last 12 months but none in last six months, up to three registered defaults in last 24 months but none in last 12 months, IVA/bankruptcy not acceptable

Arrangement fee: 499 plus application fee 145-450 depending on purchase price

Redemption fee: 6% of mortgage balance in year one, 5% in year two, 3% in year three, thereafter one months notice or one months interest thereafter

Introducers fee: Refer to lender

Tel: 0845 610 6500


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