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Future Mortgages offers discounts on sub-prime loans

Future Mortgages is offering discounts for the first time.

The sub-prime lender is featuring a 1 per cent discount on its Future 85 and Future 80 products.

It claims the discount is a “pure giveaway” and says it will continue to pay competitive procuration fees.

Future 85 offers unlimited capital-raising for any purpose and the ability to self-certify although borrowers wanting to self certify will pay an extra 0.5 per cent. The current rate with discount is 8.24 per cent for self-cert or 7.74 per cent for full status, until August 2001.

The discount will also be available on the Future 80 product. The self-cert rate with discount is 8.74 per cent and the full status rate is 8.24 per cent until the end of August 2001.

The procuration fee onthe products is 0.75 per centof the advance.

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