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Mercantile Building Society – Product 85i

Thursday, 18 October 2001.

Fixed term: Until October 1, 2003.

Fixed rate: Loans up to 80 per cent of valuation – 4.99 per cent, 81-95 per cent – 5.24 per cent.

Minimum loan: £25,000.

Maximum loan: North-east England, up to 95 per cent of valuation subject to a maximum of £250,000, rest of UK up to 75 per cent subject to a maximum of £250,000.

Income multiples: North-east England, up to 95 per cent of valuation three times principal income plus second or 2.5 times joint, up to 90 per cent 3.25 times principal income plus second or 2.5 times joint, up to 75 per cent 3.5 times principal income plus second or 2.75 times joint, rest of UK up to 75 per cent 3.5 times principal income plus second or 2.75 times joint.

Arrangement fee: £295.

Redemption fee: 4 per cent of amount repaid until October 1, 2002, 3 per cent until October 1, 2004.

Conditions: Free unemployment insurance for 12 months, valuation fee refunded subject to a maximum of £200.

Introducers&#39 fee: Subject to negotiation for IFA&#39s in North-east England only.

Tel: 0191 295 9500.


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