New mortgages from Woolwich and Abbey
by Gill Montia
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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Tags: Abbey, cut, fixed-rate, interest, launch, mortgage, new, tracker, Woolwich
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