Citing the need to 'effectively manage the flow of business' as the reason for this withdrawal, the lender is also repricing its 75 per cent LTV range.
Woolwich will be launching a five-year fixed rate and three lifetime trackers to plug this gap, with details as follows;
Five-year fix
- Rate of 6.39 per cent at a maximum LTV of 75 per cent, with £995 application fee. ERC's of six months interest at the BTL SVR or fixed rate, whichever is higher. The product allows up to 10 per cent overpayment.
- Rate of BBR +0.89 per cent with 1.5 per cent application fee (minimum £1,495) and maximum LTV of 75 per cent. There are no ERCs.
- Rate of BBR +0.89 per cent with £995 application fee and maximum LTV of 75 per cent. ERCs apply and are six months interest at the interest charging rate for three years. The product allows up to 10 per cent overpayment.
- Rate of BBR +0.99 per cent portfolio tracker with fees of £295 per property, a maximum LTV of 75 per cent and ERCs of two months interest at the charging rate for three years. The product allows up to 10 per cent overpayment.
- Rate of BBR +0.95 per cent with no application fee and 75 per cent maximum LTV. ERCs apply and are six months interest at the interest charging rate for three years
