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The Mortgage Operation – Why Not Purchase 3

Tuesday, 17th October 2000.



Type: Discounted rate mortgage.



Discounted term: Until July 1, 2002.



Discount: Year one &#45 3.5 per cent, year two &#45 1.6 per cent.



Payable rate: Year one &#45 4.24 per cent, year two &#45 6.14 per cent.



Minimum loan: £25,001.



Maximum loan: Up to 95 per cent of valuation subject to a maximum of £150,000, up to 90 per cent of valuation subject to a maximum of £450,000, up to 75 per cent of valuation subject to a maximum of £1m.



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



Redemption fee: Years one and two – 5 per cent of advance, year three &#45 4 per cent of advance, year four &#45 3 per cent of advance, £100 admin fee.



Arrangement fee: £100.



Conditions: None.



Introducer&#39s fee: For existing The Mortgage Operation customers £350, new customers £200.



Tel: 0207 571 2400.



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