Woolwich offers new low rate fixed mortgage

Grovelawn Financial News 29/01/2009

← Estate agents see a rise in enquiries | News For January 2009 | Signs that distressed sale prices may increase →

Home owners could sign up to a 2.29% fixed deal

The Woolwich have today launched a new fixed rate mortgage product that they say has the lowest interest rate for either a fixed rate or tracker rate mortgage currently available.

The rate would be 1.5% lower than any that the lender has previously offered and at 2.29% above base for life, it is certainly a life line for those looking for a bit of stability in paying their mortgage repayments for the next year. After the first year of the deal, the rate would be at 2.29% above the base rate for life. The mortgage would only be available to those with a 60% loan to value ratio. The Woolwich have been a consistently popular lender to home owners, during the third quarter of 2008 they provided 32% of the UK’s net lending on new mortgages which was an increase of 7% compared to figures for 2007.

Andy Gray, head of mortgages at Woolwich said, “We are seeing some of the best mortgage rates in a generation. This is down to increasing competition and the falling cost of lending for the banks”.

← Estate agents see a rise in enquiries | News For January 2009 | Signs that distressed sale prices may increase →

The information contained within these news articles may include reference to taxation, legislation, regulation and other issues or concerns that may no longer apply.

Your property may be repossessed if you do not keep up repayments on your mortgage.

For more information on how we are paid for mortgages please click here.

Grovelawn Financial Services, 3b Restormel Industrial Estate, Liddicoat Road, Lostwithial PL22 0HD — T: 0845 458 2633