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Woolwich to cut BTL LTV to 75 per cent

Woolwich is to withdraw its 85 per cent loan to value buy to let range from tomorrow.

It says that this is to effectively manage the flow of business it has received. It will also be re-pricing its 75 per cent LTV range.

The £75 repeat business discount will no longer be available for existing BTL customers making additional BTL mortgage applications. The full application fee is now payable for all new applications.

Woolwich says that its BTL SVR will be reduced by 0.25 per cent to 7.89 per cent from March 1.

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