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GMAC Residential Funding – Two Year Express Discount

Type:
Discounted-rate mortgage

Discounted term:
Until April 1, 2006

Discount:
1.85%

Payable rate:
3.89%

Minimum loan:
£25,001

Maximum loan:
Up to 90% of valuation subject to a maximum of £350,000,
up to 85% of valuation subject to a maximum of £500,000,
up to 75% of valuation subject to a maximum of £750,000

Income multiples:
Up to 90% of valuation &#45up to 3.3 times principal income plus second or 2.75 times joint, up to 75% of valuation &#45 up to 3.75 times principal income plus second or three times joint

Arrangement fee:
£395

Redemption fee:
3% of outstanding loan until April 1, 2006

Introducer&#39s fee:
0.35% of original loan

Tel: 01344 477477

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