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Woolwich launches buy-to-let tracker

Woolwich Direct is launching a tracker mortgage for the buy-to-let market.


The loan is aimed at borrowers looking to purchase or remortgage a residential investment property.


The loan will track Woolwich&#39s base rate plus 1.6 per cent. The bank&#39s current base rate is 6.6 per cent.


Loans will be available up to 75 per cent loan to value subject to a minimum of £25,000 and an overall maximum of £1m.


There is an application fee of £295.


There is an early redemption penalty of six months&#39 interest in the first three years.

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