Woolwich Advance

Joyful

I thought people may be interested in a call I had today with the Woolwich. I wanted an extra amount to repair my roof. After going through everything I was advised today the criteria had changed. Now if you are single you must have £551 spare cash left over after pyg mortgage etc £771 if a couple and an additional £125 per child. Even though I am paying interest of 1.75% on my mortgage they have tp base it on 5.49%. On their criteria I did not pass. Yesterday the criteria was to have 50% less spare cash.

I can understand that with the credit crunch they are being careful but even the adviser said not many people will pass. Even the fact that I was overpaying my Mortgage by £125 made no difference. Looks like I may now have to remortgage to get funds at a reasonable interest rate. If only I had called last week:rolleyes: