Lambeth Building Society
FIXED RATE MORTGAGES
Fixed terms: Until August 1, 2001 or December 1, 2002.
Fixed rates: Loans up to 75 per cent of valuation – 5.85 per cent or 6.44 per cent respectively. Loans up to 95 per cent of valuation – 6.25 per cent or 6.64 per cent.
Minimum loan: £25,001.
Maximum loan: 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: Varies depending on valuation and whether accident, sickness and unemployment insurance is taken. Ranges from three times principal income plus second or 2.5 times to 3.5 times principal income plus second or 2.6 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.