Woolwich unveils new fixed rate deal

High street lender Woolwich has launched its lowest ever fixed rate deal.

The new deal starts off at 2.29% for one year, which then reverts back to a tracker deal at hank base rate plus 2.29% for the rest of the mortgage term.

The mortgage deal is available under Woolwitch’s Switch and Save scheme, which means that remortgage customers can switch to this product with no legal or valuation fees.

The deal is available at 60% LTV, with early redemption charges of 2% for the first three years, with application fees of 995GBP.

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2 Responses to “Woolwich unveils new fixed rate deal”

  1. Paul Says:

    That is quite outstanding. It seems almost too good to be true.

  2. Kim Says:

    Not bad for a year, given rates are 1.5% at the moment. What happens after that is anyone’s guess. Ok if rates drop again, no so great if they rise.

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