Woolwich is launching a new range of mortgage products for 2007.
The range includes a lifetime tracker that tracks at 0.01% for the first two years of the mortgage and then reverts to a lifetime tracker at 0.17% above base rate for the remainder of the term.
It has no early repayment charge and carries an application fee of 1,495.
The lender is also launching two fixed rates, including slashing its rate on the five-year fixed rate to 4.98% – 0.31% below its previous best five-year fix.
Woolwich will also be continuing its 10-year fix at 4.98% and a lifetime tracker at 0.17% above base rate.
Andy Gray, head of mortgages for Woolwich, says: These new Woolwich deals are amongst the best rates we have ever offered and lead the market in their segments offering great long term value and rate guarantees.
Long term trackers have proved hugely popular with our customers over the last year.
“However, with future interest rate movements still uncertain we want to continue to offer long term fixed rates to allow customers to take any uncertainty out of their mortgage borrowings.