Barclays is reducing rates on its Woolwich mortgages by up to 0.70 per cent from Wednesday 23 June, in what it describes as a further commitment to the higher loan to value borrowing.
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In its sixth rate reduction in a row, Woolwich is reducing rates on its tracker range by up to 0.20 percentage points.
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Woolwich, the lending arm of Barclays, has cut the cost of many of its fixed mortgages enabling customers to take advantage of rates below four per cent fixed for two, three or four years.
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In a sign of rapidly increasing competition in the mortgage market, Woolwich, the mortgage arm of Barclays has announced it is launching its lowest ever fixed rate mortgage at 2.29%.
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Woolwich is cutting its standard variable rate (SVR) by 0.5 per cent following the announcement that the Bank of England base rate will fall by 0.5 per cent.
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Woolwich is cutting rates on its fixed rate mortgages by as much as 0.35 percentage points as lower SWAP rates continue to benefit the fixed rate market.
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Woolwich is cutting the rates on its most popular Lifetime Tracker product in an effort to encourage customers to take advantage flexible fee free products at a time when many are sitting tight waiting for better news on short term fixed rates.
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