Barclays Woolwich: Fixed Rate buyer mortgages

A fixed rate mortgage could be the perfect deal if you're unsure which way interest rates are going.

They also help if you're planning ahead or working to a budget. Fixed rate mortgages mean you know exactly what your monthly repayments will be - perfect for the control freak in you.

What the fixed rate mortgages offer:

• Fully flexible mortgages you don't need a degree to understand.

• The option of a Mortgage Reserve, allowing additional borrowing at standard variable rate.

• Subject to the availability of a Mortgage Reserve, you could apply for a payment holiday or make overpayments or underpayments.

• Choose from a range of fixed rates, subject to availability.

• The comfort of knowing how much you'll pay.

• After the fixed rate period your mortgage will switch to a competitive rate linked to the Barclays Bank Base Rate.

1-year Fix and Track

5.49% until 30 April 2009, then for the remaining term Barclays Bank Base Rate + 0.39%, currently 5.89%. The overall cost for comparison is 6.1% APR. Application fee: £995. Borrow up to 80% of the value of your home.

2-year fixed rate

6.09% until 30 April 2010, then for the remaining term Barclays Bank Base Rate + 0.95%, currently 6.45%. The overall cost for comparison is 6.7% APR. Application fee: £995. Borrow up to 80% of the value of your home.

5-year fixed rate

5.95% until 30 April 2013, then for the remaining term Barclays Bank Base Rate + 0.95%, currently 6.45%. The overall cost for comparison is
6.5% APR. Application fee: £995. Borrow up to 80% of the value of your home.

10-year fixed rate

5.89% until 30 April 2018 then for the remaining term Barclays Bank Base Rate + 0.95%, currently 6.45%. The overall cost for comparison is 6.3% APR. Application fee: £995. Borrow up to 80% of the value of your home.

Early Repayment Charges:

1-year Fix and Track: 1% of the balance repaid will apply if the mortgage is repaid in whole, part or transferred to another scheme until 30 April 2011. This mortgage may be switched to any Woolwich fixed, or capped rate between 1 May 2009 and 30 April 2011 subject to availability at the time, without incurring an early repayment charge on the mortgage you are leaving.

2-year fixed rate: 3% of the balance repaid will apply if the mortgage is repaid in whole, part or transferred to another scheme until 30 April 2010. However, you can overpay up to 10% per year during the fixed rate period without incurring an early repayment charge.


5-year fixed rate: 3% of the balance repaid will apply if the mortgage is repaid in whole, part or transferred to another scheme until 30 April 2013. However, you can overpay up to 10% per year during the fixed rate period without incurring an early repayment charge.

10-year fixed rate: Early repayment charge: 6% of the balance repaid will apply if the mortgage is repaid in whole, part of transferred to another scheme until 30 April 2018. However, you can overpay up to 5% per year during the fixed rate period without incurring an early repayment charge. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Please read our tariff of charges. This information must be read in conjunction with our legal information. • Lines are open Monday to Friday 9am-8pm and Saturday 9am-2pm. Calls may be monitored and/or recorded for security and training purposes. Call charges Apply.

Link to previous articles: Barclays Woolwich: First-time buyer mortgages Barclays Woolwich Mortgages: Buying your first home Alliance Leicester :Guide to remortgaging Alliance Leicester guide to moving home Alliance Leicester Guide: Buying your first home Guide to Alliance & Leicester Mortgages