FIXED RATE MORTGAGES
Type: Fixed rate mortgages offering a choice of redemption penalty options.
Fixed terms: Until January 1, 2001 or 2004.
Fixed rates: Option one – 4.59 per cent and 5.89 per cent respectively, option two – 6.59 per cent or 6.39 per cent respectively.
Minimum loan: New purchases – none, remortgages – £25,001.
Maximum loan: Up to 95 per cent of valuation subject to a maximum of £250,000.
Income multiples: Loans up to 75 per cent of valuation – 3.25 times principal income plus second or 2.5 times joint or loans up to 95 per cent of valuation – three times principal income or 2.5 times joint.
Arrangement fee: 1 per cent of loan.
Redemption fee: Option one – two year – 5 per cent in years one to four reducing to 3 per cent in year six and nil thereafter, five year – 5 per cent in years one to five, reducing to 3 per cent in year seven and nil thereafter. Option – two year – 3 per cent in first two years, five year – 5 per cent in first five years.
Conditions: Compulsory buildings and contents insurance otherwise 0.35 per cent added to rate.
Introducer's fee: Negotiable.
Tel: 0845 605 0500.