Financial Services Industry
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Financial Adviser, January, 2007
Tracker mortgage
Norwich and Peterborough building society
Type: Feather Light tracker mortgage
Description: As part of a new range of mortgages serving the credit impaired consumer, Norwich and Peterborough's Feather Light mortgage is a two-year tracker, offered at a rate of plus 0.99 of a percentage point above the base rate. After the fixed period, the rate reverts to a standard variable rate, which is presently 6.99 per cent, for the life of the loan. The maximum laon-to-value is 90 per cent. A reservation fee of AGBP599 applies.
Conditions: An early repayment charge of 5 per cent applies during the two-year tracker term. County Court Judgments cannot amount to more than AGBP5000 and defaults on credit cards, personal loans...
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