Woolwich launches fee free tracker

The new tracker product follows at 0.17% above the BoE base rate and is available for up to 60% of the value of a property. Woolwich says that interest rates are nearing the tope of a cycle and tracker mortgages are becoming more popular because they often have a lower starting rate than other products. Andy Gray, head of mortgages for Woolwich, says: “we have decided to keep our fix and track product at 5.39 per cent despite the base rate increase in July, to allow customers the choice between going straight on to a tracker or fixing for one year to make sure all interest rate increases ...