Mortgage News
Nationwide cuts cost of fixed rate deals
Nationwide is to reduce the interest rates charged on a range of its fixed rate mortgages by up to 0.45%.
As of Thursday 8 October, the building society’s new selection of offers will include a two-year fixed rate and a five-year fixed rate, both available up to 90% loan-to-value (LTV), charged at 2.79% and 3.54% respectively with a £999 fee across all loans .
Deals at 70% LTV for the three-year fixed rate start at 2.14% and for the five-year fixed rate at 2.54%.
There is also a 10-year fixed rate mortgage on offer from 3.14% for customers with a 30% deposit and 3.64% for those with a 15% deposit.
These deals are available to both first-time buyers and homemovers and offered both through brokers as well as direct through Nationwide.
Henry Jordan, Nationwide’s head of mortgages, said: “Following the launch of Nationwide’s new range of mortgage products for those with a 5 per cent deposit, we are now reducing rates for those with larger deposits looking for competitive rates and payment security over the short, medium and longer term.
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“First time buyers will also continue to qualify for a £500 cashback irrespective of which product they choose. This is in addition to the benefits available on the Flexclusive range of mortgages, including a free standard valuation and the option of either £250 cashback or no standard legal fees.”