Wednesday, November 11, 2009
Interest rates to go up, but not yet?
Woolwich.. "which is the UKâ€™s fourth biggest mortgage lender, is cutting the cost of its popular base-rate tracker deals and will introduce new deals for borrowers with a 25 per cent deposit today. It will offer a market-leading lifetime tracker at 2.44 percentage points above base, a pay rate of 2.94 per cent, available up to 75 per cent of a property's value. It has a Â£999 fee. However, Woolwich is also raising the interest rate that it uses to assess affordability, making it harder for borrowers to secure any new deal."