The Woolwich has launched a two-year flexible mortgage with a discounted rate of 2.00% less than The Woolwich SVR.
The range of discounted mortgage products will be available from November 21 2003. The products have a current rate of 3.54% with no early repayment charges. Its current range of discounted products will continue to be available until November 19 2003.
The Woolwich will also continue to offer its two and five-year fixed rate mortgages.
Andy Gray, head of mortgages at The Woolwich, says: “This year we have seen mortgage rates reach historically low levels. However, in recent weeks we have seen rates rise. We are delighted we have been able to protect our fixed rate mortgages at their current levels.”