Tuesday, November 13, 2001.
Type: Flexible capped rate discount mortgage.
Discounted term: Two years.
Discount: 0.6 per cent.
Capped rate: 6.65 per cent.
Capped term: Until January 31, 2007.
Minimum loan: £5,000.
Maximum loan: Up to 95 per cent of valuation subject to no
Income multiples: 3.5 times principal income plus second or 2.75
times joint. First time buyers 3.25 times principal income plus
second or 2.5 times joint.
Features: Overpayments, payment holidays, interest calculated daily,
Arrangement fee: £295.
Redemption fee: 5 per cent of amount repaid in year one, 4 per cent
in year two, 3 per cent in year three, 2 per cent in year four, 1 per cent
in year five.
Conditions: Compulsory insurance choice of accident, sickness and
unemployment, house and contents or homeplan until January 31,
Introducer's fee: None.
Tel: 0870 2412182.