A new market leading ten- year fixed-rate mortgage has been launched by the Woolwich Building Society.
The Woolwich said it will offer a flexible ten-year fixed rate mortgage with a rate of 4.67 per cent until May 31st 2016.
Those choosing the mortgage have the flexibility to make overpayments of up to five per cent per annum without any additional charge.
The mortgage attracts a £495 arrangement fee but is available to new and existing borrowers, while new borrowers looking to re-mortgage will be liable for no valuation or legal costs.
The society also said the new product features no higher lending charge or early repayment charge beyond fixed rate period and is available up to 95 per cent loan to value.
Andy Gray, head of mortgages for Woolwich said: “This is the best ten 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.”
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