| Ref |
37 |
| Plan Name |
Equity Advance Plan Fixed |
| Plan Type |
Rollup |
| Rate Type |
Fixed |
| Rate |
6.90% |
| APR |
7.2% |
| Interest Calculated |
Monthly |
| Interest Applied |
Daily |
| Min Percent Loan To Value |
10% |
| APR |
7.2% |
| Min Cash Sum to Value |
£10,000 |
| Max Percent Loan To Value |
90% |
| Max Cash Sum To Value |
£1,000,000 |
| Total cost of credit |
£225,977.82 (based on a 15 year term and an initial loan of £80,000).
|
| Minimum Male Age |
70 |
| Minimum Female Age |
70 |
| Minimum Joint Age |
70/70 |
| Lump Sum |
Yes |
| Regular Income |
No |
| Life Cover |
No |
| Further ER Advances |
No |
| SHIP Member |
Yes |
| No Negative Equity Guarantee |
Yes |
| Medical Required |
No |
| Ex Council Property |
No |
| Location |
|
| Minimum Property Value |
£70,000 |
| Minimum Length of Lease |
80 years |
| Property Condition |
|
| Property Type |
House |
| Property Status |
Freehold |
| Existing Mortgage |
No |
| Conditional Property Insurance |
No |
| Security of Tenure |
No |
| Minimum Income Requirement |
No |
| Income Linked to Property Value |
No |
| Plan Income Protection |
No |
| Incentives |
Yes, £150 valuation fee refunded on completion. Free legal fees and no arrangement fee. |
| Fees |
| Arrangement |
 |
No |
| Discharge |
|
No |
| Legal |
|
No |
| Valuation |
|
Yes, £150 |
| Early Repayment |
|
No |
| Other |
|
No |
|
| Loan Repayment Options |
No |
| Is Plan Portable |
Yes |
| Available From |
Direct |
| Other |
Inheritance protection option - reduces repayments in early years of plan. Available through the HSBC Equity Advance Service. |
| Plan Details Date |
Sep 2007 |
