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Woolwich launches new product range but keeps fixed rates

Amanda Jarvis

November 20, 2003

Alongside the fixed rate mortgages the new range of Woolwich mortgages includes the following:

– A two year flexible mortgage with a discounted rate of 2.00% less than the Woolwich SVR with no early repayment charge – current rate 3.54% – NEW PRODUCT
– A flexible mortgage with a two year fixed rate of 4.99% – STILL AVAIIABLE
– A flexible mortgage with a five year fixed rate of 5.19% – STILL AVAILABLE
– A two year flexible mortgage with a discounted rate of 2.00% less than the Woolwich SVR with £500 cash back – STILL AVAILABLE

Andy Gray, head of mortgages at The Woolwich says: “This year we have seen mortgage rates reach historically low levels, however in recent weeks we have seen rates on offer in the market rise. We are delighted that we have been able to protect our fixed rate mortgages at their current levels. For people wanting to secure a highly competitive fixed rate mortgage, in what is tipped to be an increasing interest rate environment, our five year fixed rate offers excellent value”.

The new range of discounted mortgage products will be available from Friday 21 November 2003, the current range of discounted products will continue to be available until close of business Wednesday, 19 November 2003.

For people who do not wish to fix their mortgage rate The Woolwich and Barclays offers the most competitive guaranteed lifetime tracker on the high street. It offsets savings balances against the mortgage and is guaranteed to track the base rate for the lifetime of the loan (current rate of 4.60%).


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