Woolwich mortgage rates are cut.

Woolwich mortgage products are being improved to attract mortgage holders hit by other UK lenders rate increases.

It was only a matter of time before lenders who have not announced a rate increase, attempted to cash in on the potential exodus of borrowers moving away from lenders who are to increase their rates.

For mortgage holders affected by lenders SVR increases Woolwich mortgage rates have been cut. Its Future Fix tracker mortgage rate and application fee have both been reduced in an effort to attract those affected by lenders SVR increases.

The Woolwich advise that with their competitors increasing rates they made the decision to adjust some of their range in an effort to help out affected home-owners .

The Woolwich Future Fix mortgage rate will be cut by 0.20 per cent for the initial two year tracker stage which will now be offered at 2.79 per cent, the remaining 3 years will stay at the previous rate level of 4.29 per cent. The lender has also cut its application fee which is down from £1299 to £999.

The lender has also advised that a new Woolwich mortgage product is to be launched called 'Mass Affluent'. This is a 2 year fixed rate mortgage for 60 per cent LTV offered at 2.99 percent. The new product comes with a £2,499 fee and is available for a minimum of £250,000 up to a maximum of £2 million.

Deal Direct can help mortgage holders affected by rate increases. We have access to great deals from the Woolwich and other lenders offering low rates. We are able to negotiate with any lender on your behalf to get you the very best deal available in the UK today.