Barclays and The Woolwich launches remortgage product

The new product means customers switching their mortgage from another lender could save nearly £4,000 over two years*.

Product

* 4.99% 2 Year Fixed Rate Switch & Save - £100 application fee, max Loan To Value 75%

Offer includes a free non-disclosed valuation, and either free legal fees or £300 cash back.

* 4.99% 2 Year Fixed Rate Switch & Save - £295 application fee, max Loan To Value 95%

Offer includes a free non-disclosed valuation, and either free legal fees or £300 cash back.

Existing mortgage customers can also take advantage of this leading rate.

Andy Gray, Head of Mortgages for Barclays and The Woolwich comments; "This market leading remortgage product is exclusively available to our 14 million existing customers.

Unlike other mortgage lenders we provide great deals for existing customers rather than saving the best deals to attract new ones. Our customers will be able to take advantage of one of the best deals on the market, despite being a fixed rate deal it is more competitive than most discount rates available."