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Sun Bank sets up fixed and capped mortgages

Sun Bank is offering a new range of mortgages, including fixed and capped rates.

The range includes a fixed rate set at 4.99 per cent until November 1, 2002 for loans up to 75 per cent loan to value.

There is also a 5.49 per cent fixed loan until November 1, 2000 for first-time buyers which is then capped at 8.49 per cent until November 1, 2004. Loans are available up to 95 per cent LTV.

The arrangement fee on both loans is £495.

There is also a fixed-rate buy-to-let loan at 7.49 per cent until November 1, 2002. Minimum loan is £25,001.

IFA procuration fees are 0.2 per cent for standard loans and 0.25 per cent for buy-to-let properties.

Marketing director Chris Cummings says: “Sun Bank has a reputation for providing good value mortgages. We specialise in individual mortgage solutions, for example, meeting the needs of customers who fall outside standard mortgage criteria.”

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