Woolwich reduces fixed rates

philswannie

Below is a copy of press release, looks like some fixed rates are certainly coming down !! I have no idea if these are the best rates available, but might help somebody !!

Woolwich has slashed rates below 4% for borrowers looking to fix for two, three or four years.

It's reduced its two-year fix and track mortgage from 4.39% to 3.89%, a reduction of 0.5% points
It's also reduced its three year fixed rates by 0.7% points from 4.69 per cent to 3.99%.
At the end of the fixed period all fixed rate mortgages revert to a tracker rate of 1.49% above base for the remaining life of the mortgage.
The lender has also launched a new range of four year fixed rate mortgages designed purely for home purchase.
For buyers with a deposit of 20%, the rate will be fixed at 4.99% for four years with the same follow-on rate of 1.49% above base for the remaining life of the mortgage. The rate is fixed at 3.99% for mortgages with a 40% deposit.
Chris Keane, head of mortgage products for Barclays, says: “While a large percentage of our customers are remortgagers, we have acknowledged the needs of buyers at this time with the dedicated purchase-only deal designed specifically to meet the requirements of this group. "The rate is fixed for four years to match the average term of tenure in a first property and, at under 5% for up to 80% LTV, looks very attractive.”

sammyjammy

These look good, hope others follow suit!

Anon

Nationwide also cut some of their fixed rates today by 0.2%, plus clarified their tracker policy (information was withdrawn when the base rate changed again). So two mortgage cut fixed rates, days after Lloyds called the bottom of the fixed rates and urged customers to fix now ... so clearly not the bottom!

Anon

KTF

What are the fees on those new Woolwich rates? There is no mention of them in your post.

Edit:
1-year Fix and Track
• [No change] 2.29% fixed for one year followed by base +2.29
Max 60% LTV, £995 fee, 2% ERC for first three years
Available on loans from £200k - £500k
• [WITHDRAWN] 3.79% fixed for one year followed by base +2.29%
Max 60% LTV, £995 fee, 1% ERC for first three years
• [WITHDRAWN] 4.29% fixed for one year followed by base +2.29%
Max 70% LTV, £995 fee, 1% ERC for first three years

2-year Fix and Track
• [Previously 4.39%] 3.89% fixed for two years followed by base +1.49
Max 60% LTV, £995 fee, 3% ERC for first two years
• [Previously 4.99%] 4.39% fixed for two years followed by base +1.49
Max 70% LTV, £995 fee, 3% ERC for first two years

3-year Fixed Rate
• [Previously 4.69%] 3.99% fixed for three years followed by base +1.49
Max 60% LTV, £995 fee, 3% ERC for first three years
• [Previously 4.99%] 4.49% fixed for three years followed by base +1.49
Max 70% LTV, £995 fee, 3% ERC for first three years
• [No change] 6.59% fixed for three years followed by base +1.49
Max 80% LTV, £995 fee, 3% ERC for first three years
• [No change] 6.79% fixed for three years followed by base +1.49
Max 85% LTV, £995 fee, 3% ERC for first three years, purchase only

4-year Fixed Rate
• [NEW] 3.99% fixed for four years followed by base +1.49
Max 60% LTV, £995 fee, 3% ERC for first four years, purchase only
• [NEW] 4.99% fixed for four years followed by base +1.49
Max 80% LTV, £995 fee, 3% ERC for first four years, purchase only

5-year Fixed Rate
• [Previously 4.69%] 4.49% fixed for five years followed by base +1.49
Max 60% LTV, £995 fee, 3% ERC for first five years
• [Previously 5.39%] 4.99% fixed for five years followed by base +1.49
Max 70% LTV, £995 fee, 3% ERC for first five years
• [No change] 6.59% fixed for five years followed by base +1.49
Max 80% LTV, £995 fee, 3% ERC for first five years
• [No change] 6.79% fixed for five years followed by base +1.49
Max 85% LTV, £995 fee, 3% ERC for first five years, purchase only
Lifetime Tracker
• [Previously +2.29] Lifetime tracker base + 2.74 = 3.74%
Max 60% LTV, £995 fee, 1% ERC for first three years
• [Previously +2.79] Lifetime tracker base + 2.99 = 3.99%
Max 70% LTV, £995 fee, 1% ERC for first three years
• [WITHDRAWN] Lifetime tracker base + 3.29%
Max 80% LTV, £995 fee, 1% ERC for first three years
Offset Tracker
• [Previously +2.49] Offset tracker base + 2.94 = 3.94%
Max 60% LTV, £995 fee, 1% ERC for first three years
• [Previously +2.99] Offset tracker base + 3.19 = 4.19%
Max 70% LTV, £995 fee, 1% ERC for first three years

From: http://www.newsroom.barclays.com/Content/Detail.asp?ReleaseID=1508&NewsAreaID=2

KTF

I wasnt having a go. Just wondered if you knew what they were (before I found them) as low rates normally have higher than average fees attached.