The Woolwich increases SVR by 0.25%

The Woolwich has increased its standard variable mortgage rate by 0.25% to 5.79%.

The increase applies to The Woolwich and Barclays standard variable rates and will not be effective until December 1 2003.

Openplan offset which is guaranteed to track the banks base rate for the lifetime of the mortgage &#45 bank base rate plus 0.85% &#45 will increase to 4.60% with immediate effect for new customers and from December 1 2003 for existing customers.