With the first-time buyer Stamp Duty holiday due to end on 24 March, the offer is available for a limited time to first-time buyers who hold or open a FlexAccount as their main current account and reserve a deal from Nationwide’s two-, three- or five-year fixed rate range from today.
In addition, first-time buyers saving for at least six months in its Save to Buy account will earn up to an additional £1,000 cashback, giving them up to £2,000.
Nationwide estimated that, once the Stamp Duty holiday ends, the average potential buyer will face paying an extra £1,400 to get onto the property ladder.
Martyn Dyson, head of mortgages at Nationwide, said: “The loss of the Stamp Duty holiday has been a blow for first-time buyers as they now potentially have to save more than a thousand pounds on top of a deposit.
“Nationwide is committed to doing what we can to help support this important part of the market. The society already offers a £500 discount on product fees and our unique Save to Buy savings account which enables savers to qualify to apply for a mortgage with just a five per cent deposit.
“Add to this to our new cash-back offer and it shows we are really are doing more for first-time buyers.”
