Woolwich Ten-year Fixed Rate Mortgage launched

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Woolwich Ten-year Fixed Rate Mortgage launched

The 0.25 per cent rise in the Bank of England interest rates has prompted the launch of the new Woolwich Ten-year Fixed Rate Mortgage.

Offering a rate of 4.98 per cent, the latest mortgage release from Woolwich allows customers to make up to five per cent repayments each year.

No higher lending fees will be charged on the product, which can be taken up by both new and existing customers and is available at up to 80 per cent loan to value.

Mark Parsons, managing director for Woolwich, said: "We believe this is the best ten-year fixed rate mortgage available."

"Some consumers want complete certainty about their monthly payments and this mortgage gives that certainty," he added.

Woolwich is part of the Barclays group, which operates in more than 60 countries worldwide and employs over 100,000 people.

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