View more on these topics

Woolwich slashes Bovis new build mortgage by 1.2%

Woolwich has cut the rate on its Perfect 10 mortgage by 1.2 per cent, from 4.99 per cent to 3.79 per cent.

The mortgage, which requires a 10 per cent dent deposit and is available only for purchasing new build properties from Bovis Homes, is a two-year fixed rate with an arrangement fee of £999.

After two years the rate reverts to a lifetime tracker at base rate plus 2.99 per cent.

The deal also gives buyers three year unemployment protection insurance from the date of the exchange and £500 towards legal fees.

Barclays head of mortgages Andy Gray says: “Slashing the rate enables more buyers to purchase a new home with just a 10 per cent deposit at one of the most affordable rates since the recession.

“The deal also gives a measure of protection for customers, Barclays and Bovis Homes and is testament to our commitment to get lending at 90 per cent levels on the right track but in a way which is sustainable in the long term.”


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Why only for Bovis Homes? What makes their new build a better risk than other builders?

    Or is it that Bovis is subsidising the arrangement? If so, is this a hidden inducement to buy?

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm