Mortgage Corporation

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Thanks for all the responses to questions.... just a quick thought re: TMC. Does anyone else remember TMC having different 'grades' of mortgage (Silver,Gold and Platinum if I remember rightly) according to the ltv/risk assesment. I seem to remember being told that in order to get my mortage I would have to sign up for a 'premium' (ie 'Platinum') mortgage which, naturally, attracted a higher interest rate. I'd be interested to find out if anyone else recalls this. Thanks again Mark

-- mike (cantpaywontpay2000@yahoo.com), April 22, 2002

Answers

Mike,

We had an 'Equity Gold' with TMC 1989. We have some of the marketing literature relating to this (results of SARN to TMC). This particular mortgage was endowment and non status. Interest rate was 0.5% above the TMC's standard variable rate. Minimum lending was 50000 and the maximum was 75% on properties valued 66,600 - 250,000 and 70% properties valued 250,001+.

Sorry but no info on silver or platinum.

Hope this helps.

-- alyson (alyson37@hotmail.com), April 22, 2002.


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