1st National Bank will pay legal and valuation fees on behalf of the customer, up to a maximum EC$20,000.00 on loans. In addition, the penalty amount, not exceeding 6 months of interest charged by the competitor, can be added to the loan amount/request. The term of the loan is based on the age of the customer, in line with retirement up to age 65. Penalties for early closure is 6 months of interest plus legal fees which the Bank paid on behalf of the customer when the mortgage was switched.
Note:- This applies if the customer pays off the mortgage loan before 5 years.