Woolwich cuts buy-to-let rates

The lender says the same rates will be available to both intermediaries and through its branch network. Woolwich’s portfolio lifetime tracker mortgage has been cut by 0.4%, while its five-year fixed rate mortgage has seen a 0.5% reduction. Andy Gray, head of mortgages at Woolwich, comments: “The rate change is good news for the less experienced buy-to-let investor. Much more than professional landlords, they have been deterred from taking part in the market by recent credit conditions.” Woolwich says recent reductions in swap rates have allowed it to lower the cost of some of its more po...