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Skipton Building Society – Tracker Mortgage 85 Per Cent

Monday, 15 October 2001.

Type: Discounted flexible tracker mortgage.

Tracker term: Four years.

Tracker rate: Bank of England base rate plus 0.85 per cent.

Discount: 1.4 per cent off tracker rate for six months.

Minimum loan: £5,000.

Maximum loan: Up to 85 per cent of valuation subject to a maximum of £1m.

Income multiples: 3.5 times principal income plus second or 2.75 times joint.

Features: Overpayments, payment holidays, interest calculated daily.

Arrangement fee: £125.

Redemption fee: None.

Conditions: Compulsory insurance choice of accident, sickness and unemployment, house and contents or homeplan until January 31, 2007. Tracker rate increases to Bank of England base rate plus 1 per cent if insurance not taken. Free legal fees in England and Wales, £250 cashback in Scotland.

Introducer’s fee: Subject to negotiation.



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