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The Mortgage Business – Fast Track Remortgage

Monday, 12th February 2001.



Type: Base rate tracker self-certification mortgage for remortgages.

Tracker term: Term of loan.

Tracker rate: Bank of England base rate plus 1 per cent until March 1, 2003, thereafter Bank of England base rate plus 1.49 per cent.

Minimum loan: £25,001.

Maximum loan: Trading for 12 months – up to 80 per cent of valuation subject to a maximum of £500,000, trading for more than two years – up to 85 per cent of valuation subject to a maximum of £300,000.

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

Arrangement fee: £299.

Redemption fee: Four months&#39 interest on amount repaid in year one, three months&#39 interest in year two, two months&#39 interest in year three. Thereafter, one months&#39 interest if one months&#39 notice not given.

Conditions: Mortgage business nominated solicitor must be used.

Introducer&#39s fee: Subject to negotiation.

Tel: 08457 253253.

 

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