The new fixed rate is designed to compliment the range of tracker, offset and longer term fixed rates.
The two year fixed is available now and has an application fee of £999 up to a maximum loan to value of 70 percent. After the two years the rate reverts to a lifetime tracker at base +1.49 per cent.
David Finlay, Woolwich Intermediary Business Director said: "Competition in the mortgage market is increasing and today's change gives customers access to a competitive range of short and long term fixed rates."
