Woolwich Mortgages

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 can pay off a lump sum without it costing you in the long term.

There is the option to change both the term of the mortgage and the repayments again without cost to yourself. This has to rival the Virgin One account as the most flexible product on the market, not to mention the fact that it has better rates.

The Woolwich insist that you pay your mortgage from one of their accounts, so if you do not have an account with them then they will open one for you and give you a debit card and a cheque book etc.

This Op is starting to sound like an advert but I really believe that this is the future for mortgages, if you are a first time buyer then this has to be the mortgage for you.