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Nationwide to launch lowest 10-year fixed rate on market

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  • 03/03/2015
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Nationwide to launch lowest 10-year fixed rate on market
Nationwide is to introduce the lowest 10-year fixed rate mortgage on the market, starting from 2.89% for new customers and 2.79% for existing customers.

The new product, available at up to 60% loan-to-value (LTV) will be available from Wednesday 4 March and has been announced alongside a raft of other cuts at the lender.

Deals on the building society’s three and five-year fixed rates are now at their lowest ever, starting at 1.99% for new customers and five-year fixed rates starting at 2.34%.

Nationwide said borrowers with a 5% deposit are eligible for reductions on its Save to Buy rates, with the two-year rate with a £999 fee cut by 0.45% to 3.99%.

Its Flexclusive four-year fixed rate at up to 60% LTV has been reduced to 2.14% and the lender has introduced a rate discount of 0.10% for existing mortgage borrowers across all new loan deals.

Richard Napier, Nationwide’s director of mortgages and savings, said: “This new range of fixed rate mortgage deals ensures Nationwide remains competitive, including for those with smaller deposits. They are designed to appeal to both first-time buyers and those looking to remortgage, offering certainty of mortgage payments while interest rates remain at a historic low.

“We are also responding to customer demand for higher LTV products, such as our Save to Buy mortgage deals for customers with a 5% deposit, with a two-year fixed rate now under 4% and an offer of up to £1,000 cashback.

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