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Lambeth launches three new fixed rates

Lambeth Building Society


FIXED RATE MORTGAGES


Fixed terms: Two year – until November 1, 2000, four and five year – until December 1, 2002 and 2003 respectively.


Fixed rates: Loans up to 75 per cent of valuation – 4.79 per cent, 6.44 per cent and 6.69 per cent respectively. Loans up to 95 per cent of valuation 5.29 per cent, 6.64 per cent and 6.99 per cent respectively.


Minimum loan: £25,001.


Maximum loan: Loans up to 75 per cent of valuation subject to a maximum of £350,000, loans up to 95 per cent of valuation subject to a maximum of £237,500.


Income multiples: Ranges from three times principal income plus second or 2.5 times joint up to 3.5 times principal income plus second or 2.75 times joint depending on valuation and/or whether accident, sickness and unemployment insurance is taken.


Arrangement fee: £295 or 0.3 per cent 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 selected an additional 0.15 per cent is discounted from the fixed rate.


Introducer&#39s 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: 0800 225221.

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