Property Value
This is how much you think that your property is currently worth.
Mortgage Amount
This is the amount you would like to borrow. Minimum mortgage amount from Woolwich is £5000
Mortgage Term
This is the period over which you would like to repay your mortgage, in years and months. Minimum 5 years. Maximum 35 years
Repayment type
Repayment types are the different ways you can pay your mortgage off. With a Repayment mortgage, your monthly payments cover both interest and capital at the same time. At the end of your mortgage term the amount you borrowed including interest is paid in full, provided you make all your repayments on time. With an Interest Only mortgage, your monthly payments only cover the interest on the mortgage. Your mortgage balance remains constant and it's up to you how you choose to repay the full amount. At the end of the mortgage term, the amount you borrowed will need to be repaid in full, so you will need a suitable repayment vehicle in place to do this.
Part Interest and Part Repayment is a combination of interest only and repayment only. Please confirm how much of the mortgage amount you require on each type of repayment. The two amounts must add up to the total mortgage amount.
Interest only amount
Part Interest and Part Repayment is a combination of interest only and repayment only. Please confirm how much of the mortgage amount you require on each type of repayment. The two amounts must add up to the total mortgage amount.
Repayment amount
Part Interest and Part Repayment is a combination of interest only and repayment only. Please confirm how much of the mortgage amount you require on each type of repayment. The two amounts must add up to the total mortgage amount.
Interest rate
This interest rate is the lowest Woolwich offset mortgage rate which is currently available to you based on the ratio of borrowing against the value of your property. You can choose below to enter your own preferred rate for illustration purpose only but we may not have a mortgage available at this rate.
Your rate
You can choose to enter your own preferred interest rate for illustration purpose only but we may not have a mortgage available at this rate.
Existing Savings
This is the total amount (to the nearest £1) you already have in savings and plan to offset against your mortgage.
Regular Monthly Savings
This is the total amount (to nearest £1) you plan to add to your offset savings account(s) on a monthly basis.
Average Savings Interest Rate
This is the average savings interest rate you earn on your total savings balance
Average Current Account Balance
This is the average balance in your current account(s).
Future Additional Savings
This is any future additional savings you are expecting to offset your mortgage with e.g. a bonus, inheritance or a pension payout. Please enter the total amount to the nearest £1000 and the frequency you plan to add them.
What is your current tax band?
Please select your current income tax band. For joint applications, select the tax band of the highest earner.
What is your priority?
Please choose whether you would like to use the interest saved with your offset to reduce your mortgage term, or to reduce your monthly repayments.
Loan to Value
TLoan To Value (LTV). This is the ratio of borrowing against value of your property value e.g. If your property value is £100, 000 and mortgage amount is £50, 000, LTV will be 50%.
Interest Rate
This interest rate is the lowest Woolwich offset mortgage rate which is currently available to you based on the ratio of borrowing against the value of your property. You can choose below to enter your own preferred rate for illustration purpose only but we may not have a mortgage available at this rate.
Repayment
This calculator uses a repayment basis calculation only, however part & part or interest only options may be available from Woolwich.