Woolwich launches new mortgages

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Woolwich has launched a range of new mortgage deals in an effort to provide better value to its consumers.

The lender has introduced a new ten-year fixed rate product with a rate of 5.97 per cent, while it has also unveiled three-year and five-year deals that both have rates of 6.29 per cent.

In addition, the company has launched a lifetime tracker product which currently features a rate of 5.69 per cent.

Andy Gray, head of mortgages for Woolwich, said: "We have seen an improvement in the Swap rates recently and have taken the opportunity to reduce our longer term fixed rates where we see customers can get the best value at the moment.

He added that the firm felt the tracker mortgages still offer "the best value in the market at the moment".

Nationwide recently also reduced rates on a number of its mortgage products.

The building society's two, three and five-year fixed rate deals were affected by the changes, along with its lifetime trackers.

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