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Nationwide cuts fixed and tracker mortgage rates

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  • 11/10/2012
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Nationwide cuts fixed and tracker mortgage rates
Nationwide Building Society has reduced a number of fixed and tracker rate mortgage products from today.

The mutual has lowered rates by up to 0.40%, with its two-year fixed-rate product available up to 85% LTV at a rate of 4.29% for new customers and 4.19% for existing ones.

The product comes with a £900 product fee and £99 booking fee, with the product fee discounted to £400 for first-time buyers. A fee-free option is available at 4.69%.

Nationwide, which last week became the first major lender to withdraw its range of interest-only products from the market, will also offer a five-year fix at 3.39% for existing customers and 3.49% for newcomers, available up to 70% LTV. The same product fees apply.

The lender has also launched a four-year fixed-rate product at 2.99%, for loans up to 70% LTV to customers who are FlexAccount holders with Nationwide. A £900 product fee and £99 booking fee applies, with a discounted product fee of £400 for first-time buyers.

Tracie Pearce, head of group mortgages at Nationwide, said: “These reductions clearly demonstrate our commitment to offer competitive, quality and affordable products to new and existing customers, at all LTVs, not just for those with the largest deposits.”

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