Woolwich mortgage rates reduced

Barclays has reduced rates on Woolwich fixed and tracker mortgages by up to 0.21%.

The new rates include a two-year fixed rate deal at 2.98% with a maximum loan to value (LTV) of 70% and a lifetime tracker at 2.38% above base, with a maximum 75% LTV.

The two and three-year fixed rates available up to 70% LTV have been particularly targeted to receive the largest cuts, with the three year deal going from 3.99% to 3.78% and the two year has reduced from 3.18% to 2.98%.

Meanwhile, the equivalent two-year rate for customers qualifying for Barclays loyalty mortgages has fallen from 2.99% to 2.89%, which could make a difference to how people plot out their personal finance plans.

For borrowers who choose a lower fee of £199, the two-year rate will go down from 3.99% to 3.79%.

At the same time the lifetime tracker available up to 75% LTV is being cut by 0.19 percentage points from base +2.57% to base +2.38% with a £999 application fee. The equivalent rate on the loyalty range has been cut by base + 2.39% to base +2.28%. The lifetime tracker at base +1.97% remains available.

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