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GE Money – Near Prime Three-Year Discount Self Cert

GE Money

Near Prime Three-Year Discount Self Cert

Type: Discounted-rate adverse credit mortgage

Discounted term: Three years

Discount: 0.15% for loans up to 80% of valuation, 0.35% for loans 85-90% of valuation

Payable rate: Loans up to 90% of valuation – 9.09%, up to 85% of valuation – 7.99%, up to 80% of valuation – 7.64%, up to 75% of valuation – 7.39%, up to 60% of valuation – 7.34%
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 £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, up to one month’s arrears in last 12 months but none in last six months, maximum of one CCJ in last 36 months but none in last 12 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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