Woolwich mortgage to track and track again
www.moneynews.co.uk > Mortgages > Woolwich mortgage to track and track again
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Money News |
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Woolwich mortgage to track and track again
Thu 11th Oct 2007
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For the first year this product will track at 0.26 per cent below the base rate and for the next two years will track at 0.39 per cent above the rate.
A droplock facility will also be offered on the product, allowing customers to switch to a Woolwich fixed or capped-rate mortgage whenever they like.
Andy Gray, head of mortgages for Woolwich, said: "We are moving towards a situation whereby the next movement in interest rates is likely to be down.
"With many borrowers coming off very low fixed rates and tracker rates in the market generally moving higher, this product offers customers the opportunity to take advantage of an initial low tracker."
All Woolwich residential mortgages feature daily interest and are fully portable.
Woolwich, now owned by Barclays, was founded in 1847.
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Related News : Woolwich |
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