Society cuts fixed and tracker rates on selected products
Nationwide Building Society today announces that its mortgage range will include the following: For those buying a home: Two year fixed rate available from 3.88 per cent (up to 70 per cent LTV) New customers can borrow up to 85 per cent LTV Existing borrowers who are moving home can borrow up to 95 per cent LTV £99 booking fee (payable upfront and non-refundable) £896 reservation fee Two year fixed rate available from 4.28 per cent (up to 70 per cent LTV) New customers can borrow up to 85 per cent LTV Existing borrowers who are moving home can borrow up to 95 per cent LTV No fee Two year tracker available from 2.94 per cent (up to 70 per cent LTV) New customers can borrow up to 80 per cent LTV Existing borrowers who are moving home can borrow up to 95 per cent LTV £99 booking fee (payable upfront and non-refundable) £896 reservation fee Three year tracker available from 3.14 per cent (up to 75 per cent LTV) New customers can borrow up to 80 per cent LTV Existing borrowers who are moving home can borrow up to 95 per cent LTV £99 booking fee (payable upfront and non-refundable) £896 reservation fee For those remortgaging: Two year fixed rate available from 4.17 per cent (up to 60 per cent LTV) Remortgage customers can borrow up to 85 per cent LTV £99 booking fee (payable upfront and non-refundable) £896 reservation fee Two year tracker available from 3.08 per cent (up to 60 per cent LTV) Remortgage customers can borrow up to 75 per cent LTV £99 booking fee (payable upfront and non-refundable) £896 reservation fee Three year tracker available from 3.26 per cent (up to 60 per cent LTV) Remortgage customers can borrow up to 75 per cent LTV £99 booking fee (payable upfront and non-refundable) £896 reservation fee For those switching at the end of an existing Nationwide deal: Two year fixed rate available at 3.79 per cent (up to 95 per cent LTV) Existing borrowers switching at up to 95 per cent LTV £995 reservation fee Three year fixed rate available at 4.49 per cent (up to 95 per cent LTV) Existing borrowers switching at up to 95 per cent LTV £995 reservation fee Two year capped tracker available from 2.99 per cent (up to 95 per cent LTV) Existing customers switching at the end of a Nationwide deal at up to 95 per cent LTV £999 reservation fee on loan sizes up to £149,999 Capped at 3.99 per cent Also available at 3.14 per cent with a £1,499 reservation fee* on loan sizes between £150,000 and £500,000, capped at 4.14 per cent Three year capped tracker available at 3.99 per cent (up to 95 per cent LTV) Existing customers switching at the end of a Nationwide deal at up to 95 per cent LTV £699 reservation fee on loan sizes up to £149,999 £1,499 reservation fee on loan sizes between £150,000 and £500,000 Capped at 4.99 per cent Andy McQueen, mortgage director at Nationwide, said: "We've cut nearly 70 individual rates on our mortgages by up to 0.80 per cent. For example, our two year fixed rate with no reservation fee for house movers has been reduced from 4.88 per cent to 4.28 per cent and our two year fixed rate with an £896 reservation fee at 85 per cent LTV is reduced from 6.44 per cent to 5.88 per cent, making both products highly competitive. "We've also extended the availability of some of our lowest 60 per cent LTV rates to make them available to people with 25 per cent or 30 per cent deposits on selected products, meaning house purchasers and first time buyers with a smaller deposit now have access to some of our lowest rates. "Existing customers switching products with limited equity also continue to benefit from one rate regardless of their LTV tier on the one, two and three year products. Furthermore, a capped tracker range is still available to help those who want to remain on a variable rate product with the guarantee that their rate will not go above 3.99 per cent."
Date: 6th, October, 2009
Author: Ben Wilkie
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