Lambeth Building Society
CAPPED RATE MORTGAGE
Capped term: Until January 1, 2001.
Capped rate: 7.75 per cent.
Payable rate: 6.55 per cent.
Minimum loan: £25,001.
Maximum loan: Up to 75 per cent of valuation subject to a maximum of £350,000.
Income multiples: Three times principal income plus second or 2.5 times joint.
Arrangement fee: £295 or 0.3 per cent of loan for loans above £100,000.
Redemption fee: 5 per cent in first six years.
Conditions: Compulsory buildings insurance otherwise 0.5 per cent is added to rate. If ASU insurance taken rate is reduced by 0.15 per cent.
Introducer's fee: Loans up to £50,000 – £100, loans of £50,000 plus – £150. Also a bonus payment of £200 is payable if six cases are referred in any one year.
Tel: 0645 909192.