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Mortgage example 9

This client wishes to purchase property currently renting from local authority
(council right to buy scheme )client has clean credit history.
You have requested a capital and interest mortgage, value £40000,
to be repaid over a period of 25 years on a property that is located in England.
Estimated value of property £60000.

Monthly Mortgage Payment £251.40

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YOUR HOME IS AR RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. ALL LOANS ARE SUBJECT TO STATUS. SECURED LOANS ARE SECURED ON PROPERTY