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Woolwich ‘track and cap’ launch aims to beat rate rises

Woolwich the launched what it claims to be the first-ever track and cap mortgage to protect against rising interest rates.

The lender’s lifetime tracker at base plus 0.23 per cent has the optional protection of a cap at 5.99 per cent for the first two years of the mortgage.

This comes as many commentators predict the base rate could go on rising from its current 5.25 per cent position.

Woolwich head of mortgages Andy Gray says: “Most traditional capped rate mortgages are not linked to a base rate tracker, so it can be hard to get any real benefits when rates start to fall. With this you still get all the benefits of a base rate tracker in terms of flexibility but with the benefit of protection for the first two years after completion.

“Overall we believe this is the best mortgage available in the market. The lowest long term rate, a capped upper rate if you want, and at the same time flexibility to overpay, pay off the mortgage early, move house and re-mortgage.”


Left out in the cold

Worst attempt to get coverage on the back of the recent snowy conditions has to go to those normally reliable folk at Wriglesworth.The lender could still do business despite the cold snap that saw many people up and down the country confined to their homes last week. Wow.The release even featured news of a snowball […]

MM Live and Mortgage Business Expo set for Scotland

Money Marketing Live and Mortgage Business Expo will be joining forces at the Scottish Exhibition and Conference Centre in Glasgow on March 8. Financial Services Scotland will look at regulatory and industry developments, creating one of Scotland’s biggest-ever financial services shows. Provider representatives at the Money Marketing conference will include Aegon Scottish Equitable director of […]

Abbey reviewing exit fee after FSA statement

Abbey may be forced to overhaul its mortgage exit fee policy amid concerns that its charge is likely to fall foul of the FSA’s new code.The lender’s intermediary arm states in its tariff of charges that a mortgage administration fee of £225 is “charged to cover the costs of providing, maintaining and closing your mortgage, […]

Neptune Global Income: Is Japan the best dividend market in the world?

By George Boyd-Bowman, Fund Manager at Neptune The Neptune Global Income Fund seeks exposure to the very best – and often overlooked – income opportunities from across the world. Unconstrained by benchmarks, the fund currently has 24 per cent invested in Japan, differentiating the high conviction portfolio from many of its peers. Watch Neptune Fund […]


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