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Hamptons and Square Mile unveil tracker rate

Hamptons and Square Mile last week announced an exclusive tracker rate.

The pay rate is 3.99% and it is Bank of England base rate less 0.51% for two years, then base plus 1.25% for the life of the loan.

The rate contains early repayment penalties of 3% in year one and 2% in year two, along with an arrangement fee of £699.

It will be available from July 1 for purchases and remortgages and is available up to 90% of £500,000, 85% to £1.7m and 75% to £2m.

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