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Mortgage lender kicks off offset mortgages
Thu, 03 Nov 2005
A lifetime tracker mortgage range has been launched by the Woolwich .

The mortgage range includes an offset mortgage that offers a mortgage rate tracking at 0.59 per cent above the Bank of England base rate .

A range of new fixed rate mortgages all come with a built-in lifetime tracker which guarantees mortgage borrowers' mortgage rate after the completion of their fixed rate period.

With a growing demand for long-term lifetime tracker mortgages, the Woolwich is "leading the market", according to the mortgage lender's head of mortgages, Andy Gray.

He adds that the mortgage rate offered an "extremely competitive" guaranteed mortgage rate on offset.

In addition to this, the mortgage lender offers a range of fixed rate mortgages that offer "lifetime value" when they revert to tracker, so mortgage borrowers get the "best off both", Mr Gray says.

Customers who remortgage to this product will receive free valuation and legals. No higher lending charge or early repayment charges apply to the offset mortgage .

New and existing customers of the Woolwich and Barclays qualify for application for these mortgages .

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