Woolwich brings back 70% LTVs
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Woolwich, the mortgage arm of Barclays, has restored the maximum LTV on its range of two-year fixed rate deals to 70%.
The lender withdrew certain products at 70% LTV on March 1, saying that the decision was taken to manage service levels.
Woolwich has now re-introduced the 70% LTV, from a maximum 60%, for two-year fixed rate deals with effect from March 19.
The range includes a 3.39% two-year fixed rate with a £1,499 fee and a minimum loan size of £200,000.
Other deals available include a two-year fixed rate at 3.59% with a £999 fee, and a two-year fixed rate deal at 3.79% with a £199 fee and a minimum loan size of £100,000.
The lender has also increased the LTV from 60% to 70% on certain tracker rates.
Trackers at the new 70% LTV include a lifetime tracker at 2.59%, or Bank of England base rate plus 2.09%, with a £1,499 fee and a minimum loan size of £200,000.
There is also an offset tracker at 2.89%, or base plus 2.39%, with the same £1,499 fee and £200,000 minimum loan.
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Readers' comments (4)
Moose | 22 Mar 2010 5:17 pm
these products will also be impossible to secure via the fund booking line
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bobby | 23 Mar 2010 7:26 am
Also expect the turn around time to be 14 weeks to get an offer letter from them.
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Anon IFA | 25 Mar 2010 8:14 am
With set up fees of nearly 1500 pounds I dont see these as being particularly attractive over 2 years. They are just getting plain greedy.
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peter | 26 Mar 2010 4:30 pm
Other than the 3.39 for 200k> what is worth the wait? their idea of a lifetime mortgage, is the application process -to offer!!
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