Woolwich and Yorkshire launch new trackers
The Woolwich has launched a lifetime tracker mortgage with no application fees.
Interest is charged at 0.17% above base rate (current payment rate 5.92%), representing the best ever rate charged by the Woolwich for fee free lifetime tracker product.
The LTV ratio is 60% and customers switching from another lender will have their legal and survey fees paid under the Woolwich’s Switch & Save scheme.
A lifetime tracker rate of +0.28% is available for those borrowing up to 80% of their purchase capital.
Yorkshire Building Society has also announced a new range of Bank of England tracker mortgages.
These comprise a 2-year tracker at +0.61% and with an arrangement fee of £1,995 (current repayment rate 5.14%); a 2-year tracker at +0.26% and an arrangement fee of £795 (current repayment rate 5.49%); a 2-year tracker at +0.49% no arrangement fee (current repayment rate 6.24%).
The Yorkshire is offering house purchasers 0.30% cashback and will provide free valuation and legal services for customers remortgaging.