| Ref |
7 |
| Plan Name |
Silver Lifetime Roll Up Scheme |
| Plan Type |
Rollup |
| Rate Type |
Variable |
| Rate |
7.35% |
| APR |
7.6% |
| Interest Calculated |
Monthly |
| Interest Applied |
Annually |
| Min Percent Loan To Value |
12.5% |
| APR |
7.6% |
| Min Cash Sum to Value |
£5,000 |
| Max Percent Loan To Value |
40% |
| Max Cash Sum To Value |
£600,000 |
| Total cost of credit |
£241,608.71 (based on a 15 year term and an initial loan of £80,000).
|
| Minimum Male Age |
60 |
| Minimum Female Age |
60 |
| Minimum Joint Age |
60/60 |
| Lump Sum |
Yes |
| Regular Income |
No |
| Life Cover |
No |
| Further ER Advances |
No |
| SHIP Member |
No |
| No Negative Equity Guarantee |
Yes |
| Medical Required |
No |
| Ex Council Property |
No |
| Location |
England Wales
|
| Minimum Property Value |
, No minimum specified. |
| Minimum Length of Lease |
80 years |
| Property Condition |
Well Maintained |
| Property Type |
House Bungalow |
| Property Status |
Freehold |
| Existing Mortgage |
Yes |
| Conditional Property Insurance |
No |
| Security of Tenure |
No |
| Minimum Income Requirement |
No |
| Income Linked to Property Value |
No |
| Plan Income Protection |
No |
| Incentives |
No |
| Fees |
| Arrangement |
 |
Yes, £145 |
| Discharge |
|
No |
| Legal |
|
Yes, Client is responsible for own and Chorley and District Building Society's legal fees |
| Valuation |
|
No, Valuation Fee Payable. |
| Early Repayment |
|
Yes, Early repayment charge period is lifetime. |
| Other |
|
No |
|
| Loan Repayment Options |
Yes, property sold, sell to move into long-term care, sell and move into sheltered accomodation, or upon death. |
| Is Plan Portable |
Yes |
| Available From |
Direct (via branch network). |
| Other |
25% Roll Up Scheme - monthly payments are 75% of the accrued interest, 25% of the interest is rolled up and added to balance. 50% Roll Up Scheme - monthly payments are 50% of the accrued interest, 50% of the interest is rolled up and added to balance. 75% Roll Up Scheme - monthly payments are 25% of the accrued interest, 75% of the interest is rolled up and added to balance. 100% Roll Up Scheme - monthly payments are nil, 100% of the interest is rolled up and added to balance. |
| Plan Details Date |
Sep 2007 |
