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TMO launches semi-commercial loan

The Mortgage Operation has launched a product which combines commercial and domestic loans.

The Semi-Commercial Fix is aimed at businesses where living accommodation is attached. It allows one mortgage to cover both the business and commercial loan.

The loan is fixed until August 1, 2000 at 7.5 per cent up to 75 per cent loan to value subject to a maximum of £150,000.

There is an early redemption penalty of 5 per cent in the first five years. But borrowers are able to repay up to 10 per cent a year without penalty.

There is a procuration fee of £250.


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