Woolwich cuts fixed-rate mortgage rates

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Woolwich cuts fixed-rate mortgage rates

Beginning today (August 29th), Woolwich is set to slash its three-year fixed-rate mortgage rates by 0.28 percentage points, Barclays has announced.

According to Chris Keane, head of mortgage products at Barclays, competition in the mortgage market is "hotting up".

He added: "Customers will also benefit for the term of the mortgage as all of our fixed rates revert to a very competitive tracker at 0.95 above base for the remaining life of the mortgage."

Meanwhile, Woolwich has also launched a new Lifetime Tracker mortgage product at 1.19 percentage points above the current base rate - which is presently 6.19 per cent - for mortgages with up to 80 per cent loan to value.

The new product supplements an existing Lifetime Tracker rate of 0.69 per cent above the base rate for mortgages with a loan to value rate of up to 60 per cent.

Meanwhile, Britannia Building Society also reduced its two-year fixed rate mortgage products today, with a range of options available depending on the size of the deposit.ADNFCR-323-ID-18756595-ADNFCR

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