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GE Money – Near Prime Plus Three-Year Discount Full Status

GE Money

Near Prime Plus Three-Year Discount Full Status

Type: Discounted-rate adverse credit mortgage

Discounted term: Three years

Discount: 0.15% for loans up to 80% of valuation, 0.35% for loans 85-95% of valuation

Payable rate: Loans up to 95% of valuation – 8.29%, up to 90% of valuation – 8.19%, up to 85% of valuation – 7.59%, up to 80% of valuation – 7.49%, up to 75% of valuation – 7.19%, up to 60% of valuation – 7.14%

Minimum loan: £75,000

Maximum loan: Up to 95% of valuation subject to a maximum of £300,000, up to 85% of valuation subject to a maximum of £400,000, up to 75% of valuation subject to a maximum of £500,000, up to 60% of valuation subject to a maximum of £750,000

Income multiples: Based on affordability

Conditions: Up to three registered defaults in last 24 months but none in last 12 months, no arrears in last 12 months and up to date at time of application, maximum of one CCJ in last 36 moths but none in last 24 months, bankruptcy/IVA/repossession not accepted, not available to first-time buyers

Arrangement fee: £995

Redemption fee: 7% of the mortgage balance or the amount repaid in year one, 6% in years two and three, thereafter one month’s notice or one month’s interest

Introducer’s fee: Refer to lender

Tel: 0845 610 6560


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