Woolwich Cuts Rates On Fixed And Tracker Mortgages

Woolwich mortgages from Barclays will this week see a cut in the interest rates on their fixed and tracker mortgages.

Woolwich will cut its 2 year fixed rate mortgage by up to 0.6% giving a fixed rate of 3.69% for up to 75% LTV. There’s a £999 fee for this.

It will also cut its 3 year fixed rate mortgage for up to 70% LTV by 0.5%, giving an interest rate of 3.99%. For this there’s a £999 fee or there is  a 4.29% option available with a £199 fee for mortgages above £50,000.

Andy Gray, head of mortgages at Barclays said: “our tracker rates are really strong for those who want to take advantage of the low base rate. For those who need the security of a fixed rate, the two year deals at 75% loan to value feature the biggest ever rate cuts at this level.”

There’s also a new market leading lifetime tracker at 2.49% – the Barclays base rate + 1.99% – available up to 70% LTV. This has a £1,499 fee and the early repayment charge is 1% for 2 years.

The mortgages are available at the same rates to both direct branch customers and via intermediaries. More information on the full range of Woolwich mortgages through Barclays is available at www.barclays.co.uk/mortgages.

These cuts in mortgage rates follow new launches and cuts from other providers, including NatWest and RBS who launched new tracker mortgage deals for both house purchase and remortgage.

More information on the full range of Woolwich mortgages through Barclays is available at www.barclays.co.uk/mortgages.