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Tuesday 03rd of March 2009
September 1, 2008

New mortgages from Woolwich and Abbey


by Gill Montia
New mortgages from Woolwich and Abbey

Woolwich, which is part of the Barclays group, has launched a Lifetime Tracker mortgage at 1.19% above base rate (currently 6.19%) and with a maximum loan to value (LTV) ratio of 80%.

The new loan sits alongside the lender’s existing Lifetime Tracker at 0.69% above base rate for mortgages with an LTV of up to 60%.

The lender is also cutting rates on its three-year fixed-rate deals by 0.28%.

The move will reduce interest on three-year fixes with an LTV of 60% or less to 5.69% (from 5.97%); for LTV’s of up to 80% the rate comes down to 6.19%, from 6.57%.

In addition, cuts of up to 0.18% are being made across Woolwich’s five-year fixed-rate deals, which now start at 5.79%.

At the end of the fixed-rate period all the mortgages mentioned revert to a rate of 0.95% above base rate, for the remainder of the term.

Meanwhile from today, Abbey has introduced a range of deals with a £499 fee.

The maximum LTV for the new offering is 60% and maximum loan size £250,000.

The range includes a two-year tracker at 5.94%; a two-year fix at 5.79% and a three-year fix at 5.84%.

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Story link: New mortgages from Woolwich and Abbey


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