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TMO launces new product

Amanda Jarvis

November 16, 2004

Richard Stokes, Head of Product Development at TMO comments: “Following the success of the recently launched discount product from Kensington Mortgages, we are delighted to offer a fixed version for applicants wanting certainty of payments.”

Debt Consolidation Self Cert:

– 6.95% fixed to 30/11/05 – reverts to SVR + 2.75%.
– 90% LTV remortgage to £300,000 loan size.
– Funded by Kensington Mortgages (available in England, Wales & Scotland).
– CCJs to £2,000 per applicant OR 2 missed mortgage payments (1 missed in the last 6 months).
– CCJs ignored if: (a) satisfied 12 months; (b) registered 2 years; (c) less than £100.
– IVAs accepted if completed 1 year. Bankrupts accepted if discharged 1 year.
– £99 application fee (includes one valuation up to £600,000 property value). £400 application fee for properties up to £1,500,000 value. No application fee in Scotland – applicant to arrange their own valuation report.
– No higher lending charge.
– 7/6/5% of the amount repaid in the first 3 years.
– Procuration fee 0.5% (£2,500 maximum).


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