Please find below details of our current product range offered in conjunction with The Governor and Company of Bank of Ireland
For those who can provide proof of income - being fully employed or who are self employed with a minimum of 2 years certified accounts:
Minimum age 18
Minimum term 8 years
Maximum term up to retirement age (normally 65)
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Professionals - up to 90% finance available - Fees Assisted and Discounted Product until March 2010 |
Qualifying Professions - Medical Doctors, Dentists, Opticians, Pharmacists, Veterinary Surgeons, Teachers, Barristers, Solicitors, Accountants, Actuaries, Architects, Chartered Surveyor.
Product Code PR007 (purchase) or PR008 (refinance)
Rent is calculated 6 monthly, on the basis of 6 MONTH LIBOR* (on the 1st September and 1st March) plus a margin of 0.89% (at each rent review until 31st March 2010), then reverting to a fixed margin of 1.29% (guaranteed for the remainder of term)
**Current pricing is 6 Month LIBOR (5.72 %) + 0.89% = 6.61%
FREE VALUATION
Arrangement Fee £299 - REFUNDED ON COMPLETION
Banks' solicitors charges up to £355 plus VAT - REFUNDED ON COMPLETION
With all products, you can pay the outstanding balance at any time without penalty.
Our rent reviews are on the 1st September and 1st March - you can make additional lump sum payments prior to each rent review, there is no minimum amount and there is no charge for doing so.
** Please note that your monthly payments can go up OR down on 1st September and 1st March subject to the LIBOR rate at that time and the profit margin. If you have chosen a discounted product please note that after the discounted period has ended the profit margin will revert to a margin as per your preferred product. Please see the product pricings above for details.
*LIBOR - means the London Inter-bank Offered Rate, and is used as a benchmark for the pricing of rent. LIBOR rates are set daily and can be easily obtained in financial newspapers or on the internet. Our Shariah Supervisory Committee has permitted the use of LIBOR to calculate rent, provided that it is a benchmark that is well known or easily available so that no dispute can arise when calculating rent.
Rates are correct as of 3rd July 2008
Any offer of finance will be subject to status and satisfactory valuation report. Terms and conditions of the above products maybe subject to change or maybe withdrawn at anytime.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP MONTHLY PAYMENTS DUE UNDER YOUR LEGAL AGREEMENTS WITH US
