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Home > Finance > Banking & Personal Finance > Mortgage Lenders > Woolwich Mortgages
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17 Reviews

Community Quote

It took Woolwich 2 months to issue a mortgage which was beset by delays, mistakes and lies. At one point the application sat dormant for three weeks because they weren't sure what type of survey... more

User Reviews

for Woolwich Mortgages

Rating Summary based on 17 reviews

  • 5 Stars
    		4
  • 4 Stars
    		5
  • 3 Stars
    		1
  • 2 Stars
    		0
  • 1 Star
    		7

Detailed rating

  • Competitiveness of charges/rates
  • Efficiency of service
  • Online - Content/organization of site
  • Online - Ease of applying for products
  • Online - Investment tracking
  		• 2.8
  		• 1.8
  		• 2.3
  		• 2.0
  		• 2.5
  • 10 of 11 Ciao users found the following review helpful
    Picture of hettie39

    Level 1 hettie39

    Member since 23/09/2003

    Reviews written: 2

    1 Star Worst few weeks of my life! 25/09/2003
    User doesn't recommend the product

    Advantages Advantages ZERO

    Disadvantages Disadvantages No-one knows what's going on!

    I have recently purchased my first house with my boyfriend. I can honestly say that it has been the worst experience of my life made much worse by the Woolwich. I visited numerous banks & building societies getting quotes for mortgages. We really wanted an offset mortgage, so the Woolwich Openplan was the obvious choice. I went in one morning and was quite surprised to be able to see the Mortgage advisor straight away. Anyway, she was really friendly and we talked for a while about our current situation, the house we had put an offer on and all the usual questions. The outcome of the meeting ... more
  • 14 of 14 Ciao users found the following review helpful
    Picture of odtaa

    odtaa

    4 Stars Woolwich Open Plan Mortgages 07/11/2008
    User recommends the product

    Advantages Advantages Payoff chunks of mortgage whenever you want. Offsetting saving accounts, interest calaculated daily

    Disadvantages Disadvantages Can be tempted to borrow to the max

    We've had a Woolwich Open Plan mortgage for just over seven years. On the whole we have been very satisfied. The mortgage work by allowing you to set up a number of accounts and under Woolwich a number of saving pots, ie mini accounts that cannot be overdrawn, which can be offset agai9nst the mortgage. In simple terms this means all of these funds are taken off the mortgage total and interest is then calculated on the result. We set up pots for a new car, holiday and for a small inheritance, which was to be used by our daughter to help her through university. We also had a reserve that is an ... more
  • 7 of 7 Ciao users found the following review helpful
    Picture of bounty

    bounty

    4 Stars Woolwich Buy to Let schemes 27/05/2001
    User recommends the product

    Advantages Advantages Portable mortgage with excellent customer service

    Disadvantages Disadvantages APR not the most competitive

    I'd like to pass on my positive comments to all with regards to the Woolwich Buy to Let mortgage scheme. Whilst most buy to let lenders just want to look at multiples of income:expenditure ratios and base the lending decision simply on maths, the Woolwich will actually work with you to safeguard your interests (and ultimately theirs!) in a logical step by step approach. I have found that they also provide the best customer service and their staff are very knowledgable about the product range. There are a number of schemes available, fixed, capped and discounted tracker and each option can be ... more
  • 8 of 8 Ciao users found the following review helpful
    Picture of elmhurstgb

    elmhurstgb

    5 Stars Save a bundle on your mortgage 28/03/2001
    User recommends the product

    Advantages Advantages No initial fees and no ties after 2 years

    Disadvantages Disadvantages You pay heavily if you quit prior to the end of the capped rate

    Open Plan is a very flexible and cost effective way of obtaining a mortgage. If you take out an open plan mortgage with the Woolwich then you will not have to pay any fees, this could save you up to about £600, not a small sum by any means. They are currently offering a rate capped for two years which offers 5.45% (7.1% APR) this is also available to you without any arrangement fee. After the two years you can ditch the Woolwich if you find a better option and it will only cost you £95. There are no penalties if you wish to repay your Mortgage early, so if you get a windfall of cash then you ... more
  • 15 of 15 Ciao users found the following review helpful
    Picture of Ortu

    Ortu

    4 Stars Woolwich mortgage . made a difficult task easier 05/02/2007
    User recommends the product

    Advantages Advantages High lending amount without extorsionate interest rates, Were allocated a personal morgage advisor.

    Disadvantages Disadvantages High charges for returned payments (on top of the charges your bank will charge)

    When we first started house hunting for our first home we really we're unbeleivably shocked by how much was involved. Searching for the right mortgage was so much more stressfull than finding the right house. As the house prices here are soo expensive it seemed that we would never afford anyhting as most lenders offer between 3 - 3.5 times your annual income. We must have been to about fifty lenders, well more if you include those independent mortgage advisers that check all the lenders to get the right deal. They came up with some lenders that will lend 5+ your annuall income so we gave a ... more