Woolwich fee-free lifetime tracker launched

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Woolwich fee-free lifetime tracker launched

Woolwich has launched what it claims is its best ever fee-free lifetime tracker.

The mortgage offering comes with no application fees and is set at just 0.17 per cent above the base rate - giving a current payment rate of 5.92 per cent.

Another product introduced by the bank is its new fix and track mortgage that will allow customers to benefit from one year at an interest rate of 5.39 per cent before switching to follow the Bank of England's rate.

"Interest rates are getting near the top of their cycle and tracker mortgages are proving more popular than ever as they tend to have a lower starting rate than other products," said Andy Gray, head of mortgages for Woolwich.

The bank has also launched a new lifetime tracker that has a discounted rate of 0.16 per cent below the base rate for the first two years.

The Woolwich is part of the Barclays group.

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