Barclays and Woolwich launch fixed rate deals

Barclays and Woolwich have launched a range of new mortgage deals with competitive rates.

They offer a two-year fixed rate until January 31 2008 at 4.89%, and a five-year fixed rate until January 31 2011 at 4.99%.

The products are available with no arrangement fees and no early repayment charges beyond the fixed period. There will also be no higher lending charge when borrowing up to 95%.

There will be no valuation or legal costs for customers remortgaging and switching lender, and existing mortgage customers can also take advantage of these leading rates. The products will also allow clients to be flexible with payments by offering feature such as overpaying.