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Woolwich offers two new capped-rate mortgages

Woolwich Building Society says it is introducing two capped-rate mortgages and a buy-to-let scheme to demonstrate its commitment to improving consumer choice.


The Open plan will be capped for five years at 6.89 per cent and offer loans up to 90 per cent of value.


The Traditional five-year plan will be capped at 6.99 per cent and offer loans up to 95 per cent of value.


Both schemes have an application fee of £295 and an early redemption charge of six months gross interest to February 1 2004.


The Buy-to-Let Five Year Fixed-Plan will be fixed at 7.4 per cent for loans up to 75 per cent of value and will have an application fee of £295.

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