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Nationwide cuts cost of fixed rate deals

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  • 07/10/2015
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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.

“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.”

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