Your mortgage paid for 1 year

Terms & conditions for the mortgage competition.

All applicants must be 18 years or over. To enter the draw for the competition each entrant must: (i) sign a reservation form (with relevant estate agent) to purchase a home on either The Embankment development in Belfast or Woodbrook development in Lisburn between 21st September 2009 and 14th December 2009 inclusive (there will be one winner per development). The competition does not apply to any properties booked before or after the competition dates.  And (ii) book and pay a £500 booking deposit for the purchase of a property on either development with the sales agents. And (iii) sign the standard agreements / contract documents without amendment and pay a further deposit for the purchase of the property within 6 weeks of your solicitor receiving contract documentation. And (iv) financially completing the purchase on the date on which the purchaser is advised that the property will be ready for handover. The draw for the winning entrants will occur on a date to be determined on or before the end of February 2010 (these properties will be complete and available for occupation between October 2009 and August 2010). The competition winners will be required to participate in all reasonable press and media activity post draw.

The successful winners will have their monthly mortgage payments paid directly to them each month by Carvill Group Limited. This payment will not exceed  £1000.00 per month. The mortgage payments will only commence one month after properties have been purchased by the successful winners. The current price range for properties at Woodbrook and The Embankment range from £99,950 - £204,950.

Illustration: PLOT 25 Woodbrook 4 Bedroom House £205,000, Deposit 10%, Loan Amount £184,500, Rate 3.49% Discount Rate for 2 years, Monthly Payments £829.68 on a repayment mortgage over 30 years, Arrangement fee £495 (Ulster Bank Residential NI Mortgage). Recalculated payments depending on fluctuation on interest rates will be paid by Carvill over the 12 month period to a maximum of £1000.00 per month (£12,000 per annum). The rate will depend on your individual circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage.

All information correct at time of publication Monday 21st September 2009 Source: The Mortgage Shop (NI) Ltd / UPS Financial Services.