Woolwich mortgages 'support' home improvers

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Woolwich mortgages 'support' home improvers

Woolwich has launched a new mortgage which could prove to be beneficial for those people who want to make improvements to their home.

Research carried out by the group indicates that Britons' long-standing passion for DIY could be wavering.

Over two-fifths of people say they do not have the time, while over a third say they are likely to botch such a job.

In fact, Britons would rather do a number of other household-related chores before tackling a DIY project, including electrical, plumbing and extension work.

Andy Gray, head of mortgages at Woolwich, said that home improvements could make a "tangible difference" to the value of a home, but bad work could "drag prices down".

He also said that people were increasingly looking to remortgage their property in order to fund what could be an expensive project.

To help with such projects, Mr Gray lauded the features of a Woolwich lifetime tracker mortgage.

The Woolwich mortgage is guaranteed to stay at 0.29 per cent above the base rate for the duration of the term, with the package also possessing no redemption penalties.

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