Woolwich aims to attract mortgage customers with a new four year fixed rate mortgage.
The details are simple: 4.99% fixed to 30 April 2013 with a loan to value of property of 80%. The setting up fee is £995.
Our view: It is great to see a four year fixed enter the market as they have all but disappeared and if you take the fixed rate alone, it is a very competitive offering. The relatively high set up fee and lack of incentives, however, may make it less attractive to borrowers. Even so, looking across the market, we rated this mortgage four out of five Moneyfacts stars.
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