Woolwich revamps mortgage range

Woolwich mortgages from Barclays is to offer cheaper mortgages from today Wednesday April 7th, it has been announced.

Average reductions of 0.3 per cent have been made across the lender's mortgage range, with the largest cuts happening on 75 per cent loan-to-value deals.

The revamped range includes a lifetime tracker at the base rate plus 1.99 per cent and reductions of up to 0.6 per cent on two-year fixed products.

Andy Gray, head of mortgages at Barclays said Easter is "one of the busiest times of year for the housing market".

"With more people looking for mortgages, the substantial cuts to mortgage rates are giving people the right mortgage at the right time," he stated.

"Our tracker rates are really strong for those who want to take advantage of the low base rate."

Earlier this week, The Mortgage Works announced a number of rate reductions to its own range, with a spokesperson for the firm saying it was committed to offering cheaper mortgage deals.

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2010-04-07 13:29:27 © Moneyextra.com