Woolwich further strengthens mortgage range

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The new 75 per cent loan to value range includes a two-year fixed rates at 3.99 per cent and 4.09 per cent, and lifetime tracker at 2.94 per cent [Barclays base rate + 2.44 per cent] and 3.34 per cent [Barclays base rate +2.84 per cent]. In addition the 70 per cent loan to value tracker a current best buy is being reduced from 2.79 per cent to 2.77 per cent.

Andy Gray, head of mortgages at Woolwich said: "We are introducing a tier of mortgage lending which we haven’t offered since the start of the recession."

"This is the fifth time we have lowered our rates since the beginning of September and we are definitely seeing a trend in the market for lower rates and more competition. With more people looking for mortgages, the new range and tier gives greater choice for borrowers with good rates at the right time."

The mortgages are available at the same rates to both direct branch customers and via intermediaries.

The new 75 per cent loan-to-value products are available for loans up to £500,000.