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Southern Pacific Mortgage Limited – Near Prime Five Year Fixed Self-Cert

Southern Pacific Mortgage Limited

Near Prime Five Year Fixed Self-Cert

Type: Self-cert fixed-rate adverse credit mortgage

Fixed term: Until December1, 2010

Fixed rate: Up to 85% of valuation 6.59%, up to 80% of valuation 6.34%, up to 75% of valuation 6.09%, up to 65% of valuation 5.59%

Minimum loan: 25,001

Maximum loan: Up to 95% of valuation subject to a maximum of 250,000, up to 90% of valuation subject to a maximum of 300,000, up to 85% of valuation subject to a maximum of 500,000, up to 75% of valuation subject to a maximum of 1m

Income multiples: Up to 95% of valuation up to 3.75 times principal income plus second or 3.5 times joint, up to 75% of valuation up to four times principal income plus second or 2.5 times joint

Conditions: No arrears in last 12 months, up to one CCJ within a maximum of 500, bankruptcy discharged up to three years and IVA satisfied up to three years

Arrangement fee: 795

Redemption fee: 6% in year one, 5% in year two, 4% in year three, thereafter one months notice

Tel: 020 7920 1000

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