| Ref |
46 |
| Plan Name |
Silver Key Mortgage |
| Plan Type |
Rollup |
| Rate Type |
Fixed |
| Rate |
6.94% |
| APR |
7.2% |
| Interest Calculated |
Annually |
| Interest Applied |
Annually |
| Min Percent Loan To Value |
10% |
| APR |
7.2% |
| Min Cash Sum to Value |
£20,000 |
| Max Percent Loan To Value |
75% |
| Max Cash Sum To Value |
£350,000 |
| Total cost of credit |
£225,886.66 (based on a 15 year term and an initial loan of £80,000).
|
| Minimum Male Age |
50 |
| Minimum Female Age |
50 |
| Minimum Joint Age |
50/50 |
| Lump Sum |
Yes |
| Regular Income |
No |
| Life Cover |
No |
| Further ER Advances |
No |
| SHIP Member |
No |
| No Negative Equity Guarantee |
No |
| Medical Required |
No |
| Ex Council Property |
No |
| Location |
Scotland
|
| Minimum Property Value |
£1, No minimum property value applies. |
| Minimum Length of Lease |
80 years |
| Property Condition |
Good 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, Free valuation available. Free legal fees by nominated solicitor or £150 contribution to fees if nominated solicitor not used. No arrangement fee. |
| Fees |
| Arrangement |
 |
No |
| Discharge |
|
No |
| Legal |
|
No |
| Valuation |
|
No |
| Early Repayment |
|
No |
| Other |
|
No |
|
| Loan Repayment Options |
No |
| Is Plan Portable |
Yes |
| Available From |
Direct. |
| Other |
Client must make monthly payments of at least the interest that is charged on the mortgage. Other capital repayments may be made. |
| Plan Details Date |
Sep 2007 |
