Figure out your mortgage with the Woolwich mortgage calculator

Founded as far back as 1847, The Woolwich has long since been one of the United Kingdom's longest running and most trusted building societies. Bought by the Barclays group in 2000, the company now acts as the mortgage brand for the banking behemoth. Despite the fact that almost 1,200 jobs were affected in this process, The Woolwich still remains highly regarded in the UK, and its partnership with Barclays and subsequent rebranding has had little effect on the goodwill felt by the British public towards it.

As the specialised mortgage branch of the Barclays Group, The Woolwich now offers a huge amount of specialist information, hints, tips and advice on their official website, located at www.woolwich.co.uk, as well as the most detailed and fully featured mortgage calculator we have ever seen online.

The Woolwich mortgage calculator, available directly from the site's homepage, allows the user to enter their mortgage information in order to find out the approximate monthly repayments across the full range of Woolwich offered mortgages.

Whether you're planning on buying a new home (regardless of whether it's your first one or not) or are simply seeking to remortgage existing an property, you'll be able to figure out with a high degree of accuracy the rough monthly outgoings you can expect from your mortgage.

The system works exceptionally well and is based on five easy steps. The first asks you to specify whether you are buying the property on your own or with another person. For the second, you'll input your annual income and that of the other person on the mortgage if applicable.

Next you'll select the amount you are looking to borrow, the maximum offered depends on how much the total annual income of the involved parties is. The penultimate step requires you to input how much of the deposit you have, after that you'll enter your desired mortgage duration, and finally you'll choose whether you'd like to go for a repayment or interest only mortgage.

Once that's all complete, you'll have a much better idea of your projected monthly outgoings, meaning you can start to plan for your financial future with a lot more accuracy.

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