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Preferred Mortgages – Core Range: Near Prime One Year Discount

Type:
Adverse credit discounted-rate tracker mortgage

Discounted term:
Until January 1, 2006

Discount:
1.5%

Payable rate:
Standard verified &#45 house purchase 5.35%, remortgage 5.6%, Standard self-cert &#45 house purchase 5.85%, remortgage 6.1%

Tracker term:
Lifetime of loan

Tracker rate:
Standard verified &#45 house purchase 1.89% above Libor,
remortgage 2.14% above Libor,
Standard self-cert &#45 house purchase 2.39% above Libor,
remortgage 2.64% above Libor

Minimum loan:
£30,000

Maximum loan:
Up to 90% of valuation subject to a maximum of £300,000

Income multiples:
Up to 3.75 times principal income plus second or 3.25 times joint

Conditions:
Up to £500 in CCJs within last 12 months, unlimited arrears but none in last 12 months

Arrangement fee:
£495

Redemption fee:
5% of mortgage balance in year one,
4% in year two,
3% in year three

Introducer&#39s fee:
Refer to lender

Tel: 0800 458 4002

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