Barclays has launched a new range of Woolwich offset mortgages.
It includes a two-year offset tracker at 2.38% (base + 1.88 market).
The new deals being introduced and available until 20 September are a two year offset tracker at 2.38% (base +1.88%) with a £1,499 fee at 70% LTV. At 75% LTV, a two year offset tracker will be launched at 2.88% (base + 2.38%) with a £999. Both deals revert to base +2.99% after the two years.
As an alternative an offset lifetime tracker rate at 70% LTV is available at 2.98% (base + 2.48%) with a £999 fee. For customers that qualify for a loyalty mortgage then the rate is reduced by 0.20 percentage points (2.78%) for the first two years. All other offset deals remain unchanged.
Andy Gray, head of mortgages for Barclays, said: “Offset mortgages are now more valuable than ever. They are a win/win solution for borrowers as they can pay off their mortgage quicker
