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Jul 18, 2006
Woolwich is
opening up more choices on its tracker products following the launch of the
company’s lifetime tracker mortgage in April.
These tracker
mortgages are now provided with both fee and no fee options. Woolwich is also
offering a new lifetime tracker with a variable rate of 4.74 percent (0.24%
above base rate) that has an arrangement fee of £595. Meanwhile, the company’s fee-free
lifetime tracker has a rate of 4.89 percent (0.39% above base).
Woolwich is
targeting a bigger chunk of the mortgage market by reducing of the minimum loan
size to £50,000 and increasing the maximum loan value from 75 percent to 80
percent. It also promised no early redemption penalties and free valuation and
legal fees for switchers.
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