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Mortgage Next – Cap and Discount Mortgage

Monday, 16th October 2000.



Type: Capped rate mortgage followed by a discounted rate.



Capped term: Until August 1, 2002.



Capped rate: 5.99 per cent.



Discounted term: August 2, 2002 &#45 August 1, 2004.



Discount: 1.2 per cent.



Payable rate: 6.54 per cent.



Minimum loan: £25,001.



Maximum loan: Up to 95 per cent of valuation subject to no maximum.



Income multiples: 3.5 times principal income plus second or 2.75 times joint.



Arrangement fee: £299.



Redemption fee: Year one &#45 5 per cent of advance, year two &#45 5 per cent of advance, year three &#45 4 per cent of advance, year four &#45 4 per cent of advance, year five &#45 3 per cent of advance.



Conditions: None.



Introducer&#39s fee: 0.5 per cent of loan.



Tel: 020 7620 0100.


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