The rate fixed at 4.67 per cent until 31st May 2016 with an arrangement fee of £495. The mortgage is available on loans of up to 95 per cent of the value of the property. Borrowers will have the ability to make overpayments of up to 5 per cent per annum without any additional charge, but a redemption penalty is payable until the end of the mortgage term.
Andy Gray, head of mortgages for Woolwich says, “This is the best 10-year fixed rate available and as we are not predicting interest rates to go any lower than they currently are over the longer term, this really is a great rate at rock bottom price and beats even the short-term rates. This provides consumers with an excellent opportunity to take advantage of the certainty that a fixed rate provides over the longer term and at the same time the flexibility to overpay.”
Other fixed rate mortgages available include a two, three and five year fixed at 4.79 per cent with an application fee of £495. All these rates are available for house purchase or as a re-mortgage package.
