Woolwich launches 75% LTV range
Share
Woolwich will tomorrow introduce a new 75% tier for the first time since the Autumn of 2008.
The new 75% LTV range includes two-year fixed rates at 3.99% and 4.09%, and lifetime trackers at 2.94% (Barclays base rate + 2.44%) and 3.34% (Barclays base rate +2.84%).
In addition the 70% LTV tracker is being reduced from 2.79% to 2.77%.
Andy Gray, head of mortgages at Woolwich said: “We are introducing a tier of mortgage lending which we haven’t offered since the start of the recession.
“This is the fifth time we have lowered our rates since the beginning of September and we are definitely seeing a trend in the market for lower rates and more competition. With more people looking for mortgages, the new range and tier gives greater choice for borrowers with good rates at the right time.”
The mortgages are available at the same rates to both direct branch customers and via intermediaries and are available for loans up to £500,000.
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
Readers' comments (4)
Anonymous | 10 Nov 2009 2:57 pm
Available via intermediaries! Ever tried?
Unsuitable or offensive? Report this comment
Anonymous | 10 Nov 2009 3:15 pm
Don't find the processing 'too bad' if well packaged, need better valuers though..
All in all another positive move.
Unsuitable or offensive? Report this comment
Anonymous | 10 Nov 2009 4:06 pm
More good news, keep it coming please lenders...and they are not even dual price the product.It looks like the Woolwich values their relationship with intermediaries.
Unsuitable or offensive? Report this comment
Dan McGeehan | 10 Nov 2009 4:51 pm
Good to see more competion at the 75% bracket now that there are more signs that the market is picking up. Also encouraging that Woolwich recognise the benefit of brokers by not dual pricing.
Unsuitable or offensive? Report this comment