Mortgage News
Nationwide launches five-year fix at 3.89%
Nationwide is to launch a five-year fixed rate mortgage at 3.89% up to 70% LTV on 1 July, as it cut rates by up to 0.65% across its fixed and tracker deals.
Borrowers can also opt for a two-year fixed rate at 4.44%, up to 85% LTV, and a three-year fixed rate at 3.59%, up to 70% LTV.
All deals comes with a £900 product fee and £99 booking fee for house purchase, remortgage and customers switching deals, while fee free options are available.
First-time buyers will receive a discounted product fee of £500 on all £900 fee mortgages.
However, Nationwide’s offer of a £500 discount off product fees for all home movers expires today.
In addition, Nationwide has improved interest rates across its range, with a two-year tracker rate at 3.84% up to 85% LTV, with a £900 product fee and £99 booking fee.
Episode 1: First-time buyers : Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
Martyn Dyson, head of mortgages at Nationwide, said: “Our five-year fixed rate offers outstanding value and reassurance for those customers concerned about future interest rate movements.
“It’s a real demonstration of our mutual difference that we continue to provide really competitive deals to our mortgage customers, and part of our ongoing commitment to get Britain moving.”
David Hollingsworth, head of communications at London and Country Mortgages, added: “It’s excellent news for brokers and their clients that Nationwide has made such significant improvements to its mortgage range.
“The five-year fixed rate is a clear market leader offering exceptional value to those looking for medium term security and to protect against future rate rises.”