UK Money News
29th July 2008
The Woolwich cuts rates on buy to let deals
The Woolwich building society has announced it has cut the cost of its some of its buy to let mortgage deals.
As a result of the move, the interest rate charged on the portfolio lifetime tracker will be trimmed by 0.40 per cent.
Meanwhile, the rate on the lender's five-year fixed rate mortgage will be cut by 0.50 per cent.
Andy Gray, head of mortgages at the Woolwich, said that cutting the cost of the loans had been made possible by a fall in the rate at which banks lend money to one another.
He commented: "Thanks to these improvements, last week we launched market leading fixed and tracker residential mortgages. Now better SWAP rates have enabled us to substantially reduce rates on some of our most popular buy-to-let mortgages.
"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."
Both products have a maximum loan to value (LTV) of 75 per cent.
back to July's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
