| Ref |
11 |
| Plan Name |
Flexible Mortgage Option |
| Plan Type |
Rollup |
| Rate Type |
Fixed |
| Rate |
6.89% |
| APR |
7.2% |
| Interest Calculated |
Monthly |
| Interest Applied |
Annually |
| Min Percent Loan To Value |
20% |
| APR |
7.2% |
| Min Cash Sum to Value |
£20,000 |
| Max Percent Loan To Value |
45% |
| Max Cash Sum To Value |
£250,000 |
| Total cost of credit |
£229,941.66 (based on a 15 year term and an initial loan of £80,000).
|
| Minimum Male Age |
55 |
| Minimum Female Age |
55 |
| Minimum Joint Age |
55/55 |
| 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 |
England Wales
|
| Minimum Property Value |
£100,000 |
| Minimum Length of Lease |
80 years |
| Property Condition |
Well Maintained |
| Property Type |
House |
| 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, £595 |
| Discharge |
|
No |
| Legal |
|
Yes, Legal fees payable by client. |
| Valuation |
|
Yes, Valuation fees payable by client. |
| Early Repayment |
|
Yes, Early repayment charge period is 10 years. |
| 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, IFA. |
| Other |
Further loans may be available. |
| Plan Details Date |
Sep 2007 |
