The Woolwich is improving its range of fixed rate and discounted mortgages.
The mortgage lender, which offers its mortgage products through Barclays, is offering three flexible mortgages, with a five year fixed rate of 4.49%, a 2.20% discount for two years with an initial rate of 3.59%, and a two year fixed rate of 3.99%. The loans are available at up to 95% loan to value. The penalty for early redemption is six months' interest calculated on the standard variable rate, currently 5.79%.
Woolwich head of mortgages Andy Gray says: “With interest rates at an historic low now is a great time to take advantage of discounted rates, especially for those looking to remortgage to cut their monthly costs.”