Woolwich in dual mortgage launch

The new products are aimed at first time buyers and those who want very large loans of up to £2m. The first time buyer product is a two-year fixed rate mortgage with an initital rate of 6.29% followed by a tracker of BoE base rate + 0.95% until the end of the term. Arrangement fees are £595 with a 10% per annum overpayment facility and can lend up to 95% of the value of a property. For those with larger deposits, a fixed rate of 5.89% is available on 80% LTV mortgages. The larger loans mortgage is capable of lending between £500,000 and £2m and up to 85% of the property value. The loan...