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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.


Cheltenham & Gloucester launches new range of fixed rates mortgages

Cheltenham & Gloucester has launched a new range of fixed rate mortgages covering two, three, five and seven years.The two year rate is fixed at 6.49 per cent for loans up to 90 per cent loan to value and 6.69 per cent up to 95 per cent LTV.The three, five and seven year rates are […]

FSAVC review could face legal challenge

FSA plans to penalise insurance companies and IFAs over the misselling of FSAVCs have been thrown into doubt after a City law firm has claimed they may be illegal.The report in today&#39s Financial Times says lawyers Reynolds Porter Chamberlain are warning the FSA that any attempts to fine or penalise IFAs or providers could be […]

Guernsey bank deposits increase

Deposits in Guernsey banks increased 4.7 per cent during the second quarter of 1999 according to figures released by its Financial Services Commission.Deposits grew by £2,541m to £56,581m for the three months to June 30, 1999, up from £54,040m the previous quarter.Director of Banking Philip Marr says: &#34Once again we have seen strong underlying growth […]

IFA fined over pensions misselling review

The PIA has taken disciplinary action against Leicestershire IFA Bland Bankart Financial Services over compliance failings resulting from the pensions misselling review.Bland Bankart of 26 De Montfort Street, Leicester was fined £20,000 and ordered to pay PIA costs of £2,200.Among the areas identified by the PIA were inadequate monitoring and failure to identify a starting […]

Responsibility Matters

The latest update from the Sustainable Investments Team at Royal London Asset Management, Responsibility Matters, is now available. In this edition the team look at issues such as the growing acceptance of sustainable investing and technology in China. Read the update here: The value of investments and the income from them is not guaranteed and […]


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