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New mortgage rates from the Woolwich
The Woolwich have today announced the launch of a new market leading lifetime tracker rate for those who wish to borrow up to 60% of the value of their property. The new rate will track at 0.69% above the Bank of England base rate for the life of the loan, and is available for both those wishing to purchase a home and those wishing to remortgage from another lender. The scheme has an arrangement fee of £995 which can be added to the loan, and there are early repayment penalties of 1% of the loan for repayments of more than 10% of the capital within the first three years.
At the same time, Woolwich have taken the opportunity to lower rates on three of their current fixed rate schemes. With effect from tomorrow, the 6.49% three year fixed rate will be repriced to 6.29% and the 6.39% five year fixed will also be set at 6.29%. The ever popular ten year fixed rate at 6.29% will be reduced to 5.94%, and all schemes will continue to bear a £995 arrangement fee. As with the schemes these replace, loans are available for up to 60% of the value of the property.
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*UK Financial Solutions is a free service acting as an introducer to David Whitehouse Associates Ltd who are an Appointed Representative of Lifetime Insurance Mortgage Experts Limited which is Authorised and Regulated by the Financial Services Authority. The UK Financial Solutions website is free to use but we may receive commission from David Whitehouse Associates Ltd for introduced business. Users of the mortgage service will receive free initial advice and quotations. The advisor may be paid a commission by the lender. Where there is no lender commission an arrangement fee will be charged. The typical arrangement fee is £199. Unless to do so would result in a loss we will beat or match any other genuine mortgage quote. We have access to rates for every product on the UK mortgage market.
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