Woolwich has now joined Barclays who offer an extensive range of different mortgages, to suit most requirements.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The Woolwich Building Society was originally formed as a mutual organisation in 1847, and became one of the UK's biggest building societies. In 1997 it ceased to be a mutual organisation and became Woolwich Plc, which was a FTSE 100 company listed on the London Stock Exchange.
Later, in 2000, Woolwich Plc was acquired by Barclays, and now exists as a Barclays mortgage brand. As one of the biggest banks in the world and one of the UK's 'big four', Barclays are a very popular option among those who prefer to get their mortgage with a major high street bank that offers plenty of different products and the convenience of lots of branches and service options.
Barclays mortgages include fixed rate, tracker and offset mortgages. A fixed rate mortgage is one where the interest rate does not change for a set period of time. A tracker mortgage is where the interest rates change in line with the Bank of England base rate, plus a percentage agreed as part of your mortgage terms. An offset mortgage is a newer style of mortgage, where you can offset your savings and the money in your current account against the mortgage and only pay interest on the rest of your outstanding mortgage.
All of these different types of mortgage have pros and cons for different people, so it is worth doing your research to find out which mortgage style is most likely to offer you good value moving forward.
Barclays offer their Woolwich mortgage customers full online banking services, and there is also the support of their call centres, and of course their branches. There are around 1,600 Barclays branches in the UK (and around 4,750 around the world), so if you prefer to discuss your mortgage in person it can be best to choose a major bank of this type.
In addition to mortgages, Barclays offer a huge array of financial products and services, however the Woolwich brand is used only for mortgage products.
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