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Scottish Widows Bank – Two Year Fixed Rate Offset Mortgage

Scottish Widows Bank

Two Year Fixed Rate Offset Mortgage

Type: Fixed-rate offset mortgage

Fixed term: Until October 31, 2008

Fixed rate: Up to 95% of valuation – 5.45%, above 95% 5.99%

Minimum loan: £30,000

Maximum loan: Flexible mortgage scheme – up to 90% of valuation subject to no maximum, professional mortgage scheme – up to 110% of valuation subject to no maximum

Income multiples: Flexible mortgage scheme – up to 4.5 time principal income plus second or four times joint, professional mortgage scheme up to five times principal income plus second or four times joint

Flexible features: Overpayments, payment holidays through mortgage reserve account, interest calculated daily

Conditions: Capital repayments of up to 10% a year allowed without penalty
Arrangement fee: £495 for loans up to 74.9% of valuation, £595 for loans of 75% of valuation and above

Redemption fee: 3% of the amount repaid in first two years

Introducer’s fee: 0.45% of the original loan

Tel: 0845 845 0110

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