New 75% LTV mortgage deals from Woolwich

Woolwich is introducing a new 75% LTV tier on its popular 2 year fixed and tracker mortgage range.

The new 75% LTV mortgages will be available from 11 November and include

• 2 year fixed rate mortgage, rate of 4.09% and a fee of £499
• 2 year fixed rate mortgage, rate of 3.99% and a fee of £999
• Lifetime tracker mortgage, Barclays base rate +2.44% giving current rate of 2.94% and a fee of £999
• Lifetime tracker mortgage, Barclays base rate +2.84% giving current rate of 3.34% and no fee

The 70% LTV lifetime tracker mortgage is being reduced to Barclays base rate + 2.27% giving a new current rate of 2.77%.

Andy Gray, head of mortgages at Woolwich said ‘This is the fifth time we have lowered our rates since the beginning of September and we are definitely seeing a trend in the market for lower rates and more competition.

With more people looking for mortgages, the new range and tier gives greater choice for borrowers with good rates at the right time.’

This announcement from Woolwich comes on the back of Abbey announcing it is launching new mortgage deals for loyal customers.

The mortgage market really does seem to be hotting up.