Wednesday, 28th March 2001.
Type: Loan to purchase dilapidated properties and refurbish them, which can then roll into a buy-to-let mortgage.
Tracker term: Up to 12 months.
Tracker rate: LIBOR plus 4 per cent.
Minimum loan: £50,000.
Maximum loan: Up to 70 per cent of original purchase price subject to a maximum of £500,000.
Income multiples: Projected rental income to be at least 130 per cent of monthly mortgage interest plus income and expenditure assessment.
Arrangement fee: 0.5 per cent of loan.
Redemption fee: None.
Conditions: Buildings insurance for properties under construction must be held.
Introducer's fee: 0.5 per cent of loan.
Tel: 0800 440099.