Woolwich ten-year fixed-rate mortgage launched

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Woolwich ten-year fixed-rate mortgage launched

The Woolwich ten-year fixed-rate mortgage has been announced with an interest rate of 4.67 per cent.

A loan-to-value level of 95 per cent is available on the offer.

Flexibility is claimed to be the deal's main feature, as it includes aspects such as allowing customers to make overpayments without being charged.

Both existing and new customers will be able to take up the offer, which asks an arrangement fee of £495 and has a fixed-rate until May 31st 2016.

Head of mortgages at Woolwich Andy Gray said: "This is the best ten-year fixed rate available and as we are not predicting interest rates to go any lower than they currently are over the longer term, this really is a great rate at rock bottom price and beats even short-term rates."

Fixed-rate mortgages of two, three and five years are also available from Woolwich; all of these charge an application fee of £495.

Woolwich is the specialised mortgage lending organisation of Barclays.

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