The Woolwich is a former building society that became a part of Barclays Group in 2000. Since 2006, Woolwich has been the group's key mortgage brand.
With the backing of Barclays, Woolwich is currently the 7th largest residential lender in the country. In 2007 the bank won a Moneywise Mortgage Award as the best provider of Lifetime Tracker mortgages.
Woolwich also makes the most of the Barclays Bank tie-up with its Openplan Mortgages, which combine mortgages with banking and savings. Is this the right type of mortgage for you? Speak to an adviser for an impartial assessment.
Woolwich Mortgage Deals
Woolwich offers a wide range of mortgages – including all of the following kinds of mortgage deals:
- Fixed Rate, Tracker and Lifetime Tracker
- Offset (savings and mortgage)
- First Time Buyers
- Remortgages
- Buy To Let
- Buying Abroad.
Fixed rate products from the Woolwich include 10-year deals starting from 5.59% (for up to 80% Loan To Value ratio). Generally with the Woolwich you will get the best rates if you're borrowing 80% or less of property value. Their maximum LTV of 90% is available only on their Standard Variable Rate or on a Lifetime Tracker at Barclays base rate + 1.49%.
Lifetime Trackers are available to first time buyers, home movers and remortgagors alike. The lowest rate is Barclays base rate +0.59% offered on loans up to £50,000 at maximum 60% LTV.
The Woolwich Offset Mortgages, including the Openplan, offset your savings or current account balance and mortgage borrowings against one another. The idea is for borrowers to end up paying less interest on the mortgage, allowing you to repay the debt more quickly. These products are a bit more complex, and have an application fee attached. A mortgage adviser will help you make sense of these products, showing you the calculations required to find out how much you will save.
Choosing A Woolwich Mortgage
We recommend that the best way to find out if The Woolwich (or any other mortgage/lender) is suitable for you is to consult an FSA-qualified mortgage adviser.
An adviser will be able to give you quotes, comparisons and general advice without charging a fee. There is no obligation and no strings attached.
Fill in the secure, 1-minute enquiry form to get a free call back from with impartial mortgage advice and a quote.