Woolwich mortgages to help first-time buyers
www.moneynews.co.uk > Mortgages > Woolwich mortgages to help first-time buyers
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Money News |
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Woolwich mortgages to help first-time buyers
Thu 12th May 2005
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The company is acting after new research showed that the number of loans to first time buyers has fallen 37 per cent since 1999, despite a rise in house prices by 90 per cent between 1998 and 2003.
The new Woolwich mortgages range includes a three-year discount mortgage with a best buy rate of 5.29 per cent and a two-year stepped tracker with 1.50 per cent cashback.
Andy Gray, head of Woolwich mortgages, said: "First time buyers face particular problems in the UK, through a combination of high house prices, and stamp duty costs which can be the final financial straw.
"We have taken on board the views of consumers wanting to get their feet on the property ladder and developed a range of leading products in terms of price and benefits, in what is a very competitive marketplace."
The Woolwich mortgages were designed after consultations with first-time buyers to identify their needs and expectations from a first mortgage.
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Related News : Woolwich |
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