Woolwich has today upped the rates on its entire fixed mortgage range in response to "substantial" increases in the cost of funding.
The lender’s three-year and five-year fixed rates jump 0.35% and 0.25% respectively, while its 10-year rates climb between 0.05% and 0.25%. Its three year fixed rate (max 90% LTV) has increased from 6.64% to 6.99%, with the entire fixed range carrying a £995 fee. The firm has also announced small changes to its lifetime tracker rates. Woolwich mortgage head Andy Gray says customers need to keep the changes in context. "The cost of funding fixed rate mortgages has substantially increased over the past two weeks and as a result Woolwich has had to increase fixed rates as well as making ...
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