Woolwich.co.uk Mortgages are provided by Woolwich.
Designed to suit your needs. If you're looking to move your mortgage, buying for the first time, or simply moving home, every part of the process will be tailored to meet your needs.
Whatever your financial requirements, they will have the mortgage to match. With the addition of The Woolwich to the Woolwich.co.uk group, Woolwich.co.uk now have an even greater selection of mortgages. They will help you decide which mortgage will suit you best and explain the different ways of repaying the loan.
Visit buying a home for more information on buying for the first time, moving your mortgage, building your own home, or releasing equity in your home.
Get your own personal quotation on the mortgage that suits you.
Important Information - Woolwich Mortgages are sold and funded by Woolwich.co.uk Bank PLC and the mortgage contract is with Woolwich.co.uk.
- Written quotations are available on request from Woolwich.co.uk Bank PLC, Woolwich.co.uk Direct Mortgages, PO Box HK 444, Leeds, LS11 8DD.
- Applications are subject to status and a minimum age of 18.
- A first charge over your property is required.
Woolwich plc is a subsidiary of Woolwich.co.uk Bank PLC. Woolwich.co.uk Bank PLC and Woolwich plc adhere to the principles of The Mortgage and Banking Codes. Copies of the Codes are available on request.
Introducing Openplan Offset MortgageOpenplan Offset Mortgages* could be saving the nation billions - and you could be thousands of pounds better off too. The average mortgage holder could save around £12,000 with an Openplan mortgage.
It works by 'offsetting' the money in your current and savings accounts against the amount you have borrowed for your mortgage. The accounts are not merged, so you don't lose control of your savings. Instead of earning interest on your savings, you reduce the amount of interest you pay on your mortgage.
For example, if you had taken out an Openplan Offset mortgage of £87,000 and had a total of £7,000 in your Woolwich.co.uk current account and Openplan Savings Accounts, you would only pay interest on the difference between the two - in this case £80,000. As the interest charged on mortgages is often higher than the amount paid on savings, offsetting could save you thousands of pounds in interest over the course of a mortgage.
The Openplan Offset Mortgage loan is a competitive new Woolwich tracker mortgage set at 0.75% over the Woolwich.co.uk Bank Base Rate for the life of the mortgage.
If you do not want to offset your savings for any reason, then you can consider other options from their range of flexible mortgages which include fixed, capped, discounted rate and other tracker mortgages (subject to availability).You won't be able to offset these but you can make one-off lump sum payments as and when it suits you, and use Money Manager to make regular overpayments **.
Offset Woolwich Flexible Mortgages within Openplan provided by Woolwich.co.uk Bank PLC. Written quotations are available from any Woolwich.co.uk branch or from Woolwich.co.uk Direct Mortgages, Woolwich.co.uk Bank PLC, PO Box HK444, Leeds LS11 8DD. Available to current account holders aged 18 or over. Subject to status. A first charge over your property is required.
Important InformationOpenplan is not available to customers of Woolwich.co.uk Private Clients International Banking in Knightsbridge, Jersey, Guernsey and the Isle of Man. Woolwich.co.uk Bank PLC. Regulated by the Financial Services Authority. Registered in England. Registered Office: 54 Lombard Street,London. EC3P 3AH.
"Billions better off" claim assumes all mortgage holders in the UK eligible for Open Plan move their mortgage, savings and current accounts to a Woolwich.co.uk Open Plan Offset Mortgage. Calculation is based upon the average outstanding mortgage of £50K (Source:CACI), average savings balance of mortgage holders £4.5K ( Source: FRS), average current account balance of mortgage holders £1.7K(Source: Woolwich.co.uk internal data), andthe average rates paid on these balances in "traditional" accounts (Source: Moneyfacts and Woolwich.co.uk/Woolwich data), compared to the interest saved by offsetting the balances."
Woolwich Mortgages are sold and funded by Woolwich.co.uk Bank PLC and the mortgage contract is with Woolwich.co.uk. Written quotations are available on request from Woolwich.co.uk Bank PLC, Woolwich.co.uk Direct Mortgages, PO Box HK 444, Leeds, LS11 8DD. Applies to new Openplan Offset Mortgages from Woolwich.co.uk. A current account is mandatory with these mortgages. Applications subject to status and a minimum age of 18. Mortgages subject to valuation (maximum Loan-to-Value 95%, remortgages 90%, or up to 90% with a Mortgage Reserve). A first charge over your property is required. You are strongly recommended to have life assurance in place to cover the full amount of all sums which you may borrow from us under the facility. The mortgage is available on an interest only and repayment basis. If you have an interest only mortgage, you are strongly recommended to have a suitable repayment vehicle in place (such as an endowment policy, ISA, PEP or Personal Pension Plan) to repay the total amount borrowed. The Offset Mortgage must normally be repaid by the time you retire or reach the age of 65 years, whichever is sooner. Full terms and conditions available on request.
A Mortgage Reserve facility with a new Openplan Offset Mortgage, will allow you to borrow on overdraft at the same rate of interest as your mortgage, and is normally, available where your mortgage is less than 90% of the lower of the Bank's valuation or purchase price of the property, over the same period as your mortgage. Mortgage Reserve is subject to status and is repayable on demand. Interest due on the Mortgage Reserve is charged to the main Offset Mortgage account.
Charges and interest rates may vary. Woolwich.co.uk is a responsible lender and when considering your application for borrowing, your financial circumstances will be appraised. And remember, if you should run into difficulty, please contact us immediately.
Woolwich.co.uk Bank PLC represents only the Legal & General Marketing Group of companies for life assurance, pensions and unit trusts, members of which are regulated by the Financial Services Authority. Woolwich.co.uk Bank PLC. Registered Number 1026167, Registered Office. 54 Lombard Street, London, EC3P 3AH. Woolwich.co.uk Bank PLC is covered by the Financial Ombudsman Service. Woolwich plc is a subsidiary of Woolwich.co.uk Bank PLC
Woolwich.co.uk Bank PLC and Woolwich plc adhere to the principles of The Mortgage and Banking Codes. Copies of the Codes are available on request.
* please note that telephone calls made to or from Woolwich.co.uk Direct Mortgages may be recorded or monitored for training purposes.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.
*Offset Mortgage is only available on a new Woolwich Tracker Mortgage through Openplan from Woolwich.co.uk.** Some flexible mortgage products are subject to an early repayment charge and cannot be swept to using Money Manager.
Additional information can be found on the Woolwich.co.uk Mortgages website.
(See the links above)
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