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Scarborough Building Society – Introducer Exclusive Credit Repair Two-Year Tracker

Scarborough Building Society

Introducer Exclusive Credit Repair Two-Year Tracker

Type: Adverse credit tracker mortgage

Tracker term: Two Years

Tracker rate: 0.94% above Bank of England base rate

Payable rate: 5.44%

Minimum loan: £25,001

Maximum loan: Up to 80% of valuation subject to no maximum

Income multiples: Up to 3.5 times principal income plus second or 2.85 times joint

Conditions: Capital repayments of up to 20% a year allowed without penalty, £500 cashback, up to £3,000 in CCJs acceptable but none in the last three months, up to two months’ arrears in the last 12 months but none in the last three months, IVAs satisfied for at least six months acceptable, bankruptcy discharged for at least 12 months acceptable

Flexible features: Overpayments, underpayments, payment holidays

Arrangement fee: None

Redemption fee: 3% of amount repaid in year one, 2% in year two

Introducer’s fee: Up to 0.75% of original loan, additional 0.2% if borrowers switch to prime option after two years

Tel: 0845 130 7383.

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