Barclays and Woolwich launch new mortgage deals

18 October 2005
Barclays and Woolwich have launched a new range of fee-free, fixed rate mortgage deals.

Barclays Banks and its mortgage division Woolwich are offering homebuyers a competitive two-year fixed rate mortgage at 4.89 per cent and a five-year fixed rate mortgage at 4.99 per cent - and both mortgages do not ask for an application fee.

The new Woolwich mortgage is open to new and existing customers and offers a fixed rate of 4.89 per cent until 31st January 2011.

There is no arrangement fee, no early repayment charges beyond the fixed rate period and no valuation fees or legal costs for customers switching mortgage provider.

Mortgage lender Nationwide urged buyers to take out fixed rate mortgages last week as the Bank of England signaled that mortgages may not be cut anytime soon.

Steve Clode of Nationwide told the Times: "Fixed-rate mortgages are becoming increasingly popular, as people want to manage their finances more effectively and budget for the long term."

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