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Preferred Mortgages – Near Prime Extra One Year Fixed Rate

Preferred Mortgages

Near Prime Extra One Year Fixed Rate

Type: Adverse credit fixed-rate mortgage

Fixed term: Until June 1, 2008

Fixed rate: Up to 90% of valuation – 7.19%, up to 85% of valuation – 6.79%, up to 80% of valuation – 6.64%, up to 75% of valuation – 6.44%, up to 65% of valuation – 6.24%

Minimum loan: £30,000

Maximum loan: 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: Based on affordability

Conditions: Up to £1,000 in CCJs, up to one month’s arrears in the last 12 months, 0.2-0.6% loadings for buy-to-let and right to buy applications depending on LTV up to 85% of valuation, 0.5% loading for mortgages over £500,000 up to 80% of valuation, bankruptcy and IVA not acceptable

Arrangement fee: £995

Redemption fee: 6% of mortgage balance in first year

Introducer’s fee: Refer to lender

Tel: 0800 458 4002


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