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Stroud & Swindon launches combined fixed tracker mortgage

Stroud & Swindon Building Society is launching a combined fixed rate mortage which switches to a tracker product. The mortgage will be available over the internet and telephone through its SSBS Direct arm.

The product offers an initial fixed rate of 3.95 per cent to July 2002, followed by a tracker rate of 0.95 per cent above the Bank of England base rate – currently 6 per cent – until July 2006. After this date the rate is 0.5 per cent below Stroud & Swindon&#39s standard variable rate, currently 7.7 per cent.

Stroud & Swindon will also refund valuation fees on completion.

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