Woolwich Mortgages

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... 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 ... Read review

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Worst few weeks of my life!

AdvantagesZERO

DisadvantagesNo-one knows what's going on!

"...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 was that she said that we were ideal candidates for the Open Plan as we could put down a 10% deposit and ..." Read review
25.09.2003

Ciao members have rated this review on average: very helpful

Community Level 1odtaa

odtaa

Woolwich Open Plan Mortgages

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

DisadvantagesCan 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 ..." Read review
07.11.2008

Ciao members have rated this review on average: very helpful

Community Level 2bounty

bounty

Woolwich Buy to Let schemes

AdvantagesPortable mortgage with excellent customer service

DisadvantagesAPR not the most competitive

"...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 ..." Read review
27.05.2001

Ciao members have rated this review on average: very helpful

Community Level 2elmhurstgb

elmhurstgb

Save a bundle on your mortgage

AdvantagesNo initial fees and no ties after 2 years

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

"...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 ..." Read review
28.03.2001

Ciao members have rated this review on average: very helpful

Community Level 2Ortu

Ortu

Woolwich mortgage . made a difficult task easier

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

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

"...mortgage payment was returned The Woolwich charged me £27.50 even though this wasn't my fault and refused to refund it. Saying that if we know there will be a problem they have no problems delaying direct debits ( which is good to know just in case) however the notice period is about 10 days before due date. which in most cases if you're going to have a problem paying you may not know that early. My bank charged me £35 but agreed fault and did refund ..." Read review
05.02.2007

Ciao members have rated this review on average: very helpful

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