Woolwich launch new mortgages from 3.99%

Our mortgage specialists provide an overview of the current market for those seeking to arrange lending

It would appear that after the recent round of interest rate cuts, banks are beginning to adjust their offers to new clients. As an example, from Friday 14th November, The Woolwich will be offering a fixed rate mortgage of 3.99% for one year followed by a tracker at 1.99% over the Bank Of England Base Rate.

The Woolwich report that this is designed to ease immediate cash flow and provide certainty for the future. The other good news is that they have also scrapped the all-too typical, large arrangement fees, with some of the latest products incurring no fee.

Paul Purkess, who is head of Coutts Byers Private Finance reports that more rate changes are expected from other lenders over the next few weeks, and this is most certainly a time to consider your options. For the first time in a considerable number of months, there are some good rates coming through to the consumer and savings to be made by changing mortgage. Paul can be contacted on 01227 282 233 for more information about this and other products that are available.

We have illustrated below some of the best rates in the market place, however these are only correct at the time of writing and may be subject to change. Therefore it would be prudent to contact us to find out which rates are still available and which best suit your specific needs.

Woolwich “Fixed and Track” Rates:

NEW! 3.99% fixed until 31.01.2010 then BBBR +1.99% - max 60% LTV, £995 fee, 1% ERC 3yrs
NEW! 4.49% fixed until 31.01.2010 then BBBR+1.99% - max 70% LTV, £995 fee, 1% ERC 3yrs
NEW! 4.49% fixed until 31.01.2010 then BBBR +1.99% - max 60% LTV, No fee, 1% ERC 3yrs
NEW! 4.99% fixed until 31.01.2010 then BBBR+1.99% - max70% LTV, No fee, 1% ERC 3yrs

Offset Trackers:

NEW! BBBR+2.09% - max 60% LTV, £995 fee, 1% ERC 3yrs with 'Droplock' functionality
NEW! BBBR+2.49% - max 70% LTV, £995 fee, 1% ERC 3yrs with 'Droplock' functionality

Coutts Private Finance is an introducer of business to The Mortgage and Finance Centre Limited which is an Appointed representative of Guaranteed Homeloans Network Services which is a trading style of Genesis Home Loans PLC and is authorised and regulated by the FSA.
Registered Office. The Coach House, 7 Mill Road, Canterbury, Kent, CT2 0AJ. Registered in England No. 5044247
YOUR HOME MAY BE REPOSSESED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Posted on 14 November 2008.
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