Norwich & Peterborough
DISCOUNTED RATE MORTGAGE
Type: Mortgage offering the choice of a one year discounted rate or a cashback of 3.25 per cent.
Discounted term: 12 months from completion.
Discounted rate: 3.25 per cent.
Payable rate: 5.35 per cent.
Minimum loan: £1,000.
Maximum loan: Up to 95 per cent of purchase price or valuation, whichever is the lower, subject to a maximum of £150,000, up to 90 per cent of valuation to a maximum of £200,000, up to 85 per cent of valuation to a maximum of £250,000, loans higher than £250,000 subject to negotiation.
Income multiples: Three times principal income plus second or 2.5 times joint.
Arrangement fee: £295.
Redemption fee: No fee charged if another scheme taken with N&P, otherwise five months' interest in the first five years.
Introducer's fee: £125.
Tel: 01733 372222.