|
Jul 18, 2006
Woolwich has
reduced the borrowing rate on its lifetime tracker offset mortgage, dropping down
to 4.98 percent (tracking 0.48 percent above base rate).
The rate, which is
eleven basis points below the company’s previous offer, is offered with free
valuation and legal fees for re-mortgagers and with a loan to value of up to 80
percent. Woolwich says there are no early redemption penalties and the
arrangement fee is £595. Moreover, a slightly higher rate of 5.09 percent is
available for customers who need to borrow up to 95 percent.
The offset mortgage
product has also been linked to both current and savings accounts from Woolwich.
Money held in savings receives an effective interest rate of 6.2 percent for basic
rate tax payers, and 8.3 percent for higher rate payers.
|
