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Financial Adviser, November, 2007
MORTGAGES
tracker
CHL Mortgages
Type: Discount tracker loan.
Description: CHL Mortgages is offering a full-status home loan at 6.64 per cent discount tracker, bank base rate plus 0.89 of a percentage point, until 30 April, 2010.
After this date, the product reverts to BBR plus 0.99 of a percentage point, giving a current rate of 6.74 per cent.
Conditions: The product is available up to 95 per cent LTV and has a completion fee of 0.5 per cent of the advance. The early repayment charge is 6 per cent of the redeeming balance up until the end of the fixed-rate period. Borrowers can repay 20 per cent each year. There is a procuration fee of 0.5 per cent and no cap.
Verdict
Plenty of other products...
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