"Following the two interest rate rises this year we have seen the number of applications for fixed rate mortgages double from 11 per cent in January this year to 21 per cent in July. We predict that this will increase to at least 26 per cent over the coming month. With rates expecting to rise by a further 0.25 per cent this year fixed rate products will be ideal for borrowers looking for peace of mind," comments Richard Saulet, head of mortgages at Barclays and The Woolwich.
* TWO YEAR FIXED RATE AT 5.29%
* Available to both new and existing borrowers
* No mortgage indemnity premium up to 90 per cent
* 95 per cent LTV
* Flexible features including payment breaks and the ability to repay part of the loan without charge
* FIVE YEAR FIXED RATE AT 5.75%
* Available to both new and existing borrowers
* No mortgage indemnity premium up to 90 per cent
* 95 per cent LTV
* Flexible features including payment breaks and the ability to repay part of the loan without charge
Barclays and The Woolwich are also launching a new 2 year discounted rate (1.60% off the Woolwich SVR) currently 4.94%, low application fee and no early repayment charge.
