Woolwich lifetime offset mortgage launched

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Woolwich lifetime offset mortgage launched

The Woolwich lifetime offset mortgage has been launched, with a rate standing at 0.59 per cent above the Bank of England (BoE) base rate.

Along with this, a tracker range has also been launched with a fixed rate.

Andy Gray, head of mortgages at Woolwich, said that the demand for such mortgages was on the up and that the Woolwich lifetime offset mortgage was "extremely competitive".

The offset deal has no higher lending charge or early repayment charge.

Furthermore, customers re-mortgaging receive a free valuation and no legal costs are payable.

Meanwhile, the fixed rate deals with a guaranteed lifetime tracker also have no higher lending charge and only charge borrowers for early repayment until the end of the fixed rate period.



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