Barclays extends mortgage package

Barclays has increased the loan to value LTV on its popular Woolwich Great Escape remortgage package to 75 per cent and introduced a range of new mortgage rates.

The Woolwich Great Escape tracker mortgage at 70 per cent LTV remains at a competitive rate of base 2.18 per cent 2.68 per cent, while a 75 per cent LTV option has been made available offering a competitive base 2.48 2.98 per cent rate.

Both rates are available with Barclays' switch and fix option but for borrowers looking to fix their rate immediately, the 70 and 75 per cent LTV options are available offering mortgage rates of 3.28 and 3.48 per cent respectively.

Andy Gray, head of mortgages for Barclays, said: "Now is the right time to be helping even more borrowers facilitate a move and save money.

"We believe the improvements announced today will help stimulate the re-mortgage market further as borrowers with less equity in their homes will be catered for."

Barclays and Woolwich have reported huge demand for the Great Escape package since it was launched a month ago.
 

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2010-11-23 13:55:59 © Moneyextra.com