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Woolwich joins the 10% club



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THE Woolwich has become the latest lender to ask all new borrowers for deposits of at least 10 per cent, just days after the Nationwide took the same step on all but two of its mortgage deals.
The lender, owned by Barclays, said the move was made prudent by difficult market conditions. Its three 95 per cent loan-to-value (LTV) deals, including a lifetime tracker and a five-year fixed rate, have been withdrawn. According to online mortgage company mform, maximum LTVs on the best two-year fixed-rate deals available have fallen to 85 per cent from 93 per cent a year ago.





The full article contains 110 words and appears in The Scotsman newspaper.
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  • Last Updated: 09 May 2008 8:36 PM
  • Source: The Scotsman
  • Location: Edinburgh
 
 

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