Woolwich Launch Lowest Fixed Rate Ever
January 29th, 2009 by 
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The Woolwich has launched its lowest fixed rate ever at 2.29%, 1.5% lower than its previous rate for the same mortgage.
The product is a one year fixed rate and then reverts to a tracker at bank base rate plus 2.29% for the remaining term of the mortgage. It is available at up to 60% LTV.
The has an early redemption charge of 2% for the first three years, with an application fee of £995.
It is available under Woolwich’s Switch & Save facility, which allows borrowers to remortgage without incurring legal or valuation fees.
Andy Gray, head of mortgages at Woolwich says: “We are seeing some of the best mortgage rates in a generation. This is down to increasing competition and the falling cost of lending for the banks.”
Posted in Mortgage news | 