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Preferred Mortgages – Light 1 Year Discount Standard Verification

Preferred Mortgages

Light 1 Year Discount Standard Verification

Type: Discounted-rate adverse credit mortgage

Discounted term: One year

Discount: 2%

Payable rate: Up to 90% of valuation house purchase 6.03% remortgage 6.28%, up to 85% of valuation house purchase 5.58%, remortgage 5.83%, up to 80% of valuation 5.18%, up to 75% of valuation 4.93%, up to 65% of valuation 4.58%

Minimum loan: 10,000

Maximum loan: Up to 95% of valuation subject to a maximum of 250,000, up to 90% of valuation subject to a maximum of 350,000, up to 85% of valuation subject to a maximum of 500,000, up to 80% of valuation subject to a maximum of 750,000, up to 75% of valuation subject to a maximum of 1m

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

Conditions: Maximum 4,000 in CCJs, up to two months arrears in last 12 months but none in last three months, bankruptcy discharged for at least 12 months, IVA satisfied for at least six months

Arrangement fee: 495

Redemption fee: 6% of mortgage balance in year one, 5% in eyar two, 4% in year three, thereafter 1% or one months notice

Introducer’s fee: Refer to lender

Tel: 0800 458 4002


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