Woolwich reinstates 75% LTV mortgages

Thursday, 12 November 2009 12:00

Woolwich is now providing mortgages for customers with 25 per cent deposits for the first time in a year.

The lender has introduced a new 75 per cent loan-to-value (LTV) mortgage range which includes a two-year fixed-rate deal at 3.99 per cent and 4.09 per cent.

A lifetime tracker charging interest at 2.94 per cent, the base rate plus 2.44 per cent, and 3.44 per cent, which is at the base rate plus 2.84 per cent, will also be available within the new range.

Meanwhile, Woolwich is reducing the rate of its 70 per cent LTV tracker mortgage from 2.79 per cent to 2.77 per cent.

Andy Gray, head of mortgages at Woolwich, said: “We are introducing a tier of mortgage lending which we haven’t offered since the start of the recession.”

He added: “With more people looking for mortgages, the new range and tier gives greater choice for borrowers with goods rates at the right time.”

The 75 per cent LTV mortgages are available to customers borrowing up to £500,000.

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