Woolwich offering 1.67% tracker for mortgages between £1 million and £3 million
Woolwich for Intermediaries is offering a fantastically low two-year tracker rate for mortgages between £1 million and £3 million.
Trinity Financial has access to the 1.67% mortgage that tracks the Barclays Bank Base Rate (currently 0.5%) plus a margin of 1.17%.
After the two-year benefit period the mortgage will revert to 3.49% over the lenders base rate giving a pay rate of 3.99%.
In order to qualify borrowers will need a 30% deposit and there is a £1,999 arrangement fee. The overall cost of comparison is 3.6% APR and 1% early repayment charges apply for the first two-years.
Aaron Strutt, product manager at Trinity Financial, says: “Woolwich’s 1.67% tracker mortgage is even more attractive for existing Barclays’ premier customers because the bank lowers the arrangement fee and waives the early repayment charges.
“Borrowers have flexibility with this mortgage because they have the option of switching into a fixed mortgage when the Bank of England finally increases. However, they will have to pay another arrangement fee.”
The bank also provides a free property valuation and legals service, keeping remortgage costs to a minimum.
For help to secure a leading large mortgage loan, call Trinity on 020 7016 0790
Rate correct at time of writing - 15/07/2015
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