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Nationwide cuts mortgage rates

Nationwide Building Society has announced changes to its mortgage product range, which will be effective from Friday 12 September:

 


  • Selected fixed and tracker rates cut by up to 0.30 per cent;

  • New two year fixed rate with a £999 fee, available from 5.58 per cent;

  • The five year fixed rate and 2 year tracker products with a reservation fee of £1,499 will now have a reservation fee of £1,999.


 

Nationwide is currently waiving the £599 reservation fee, for a limited period, for existing borrowers who are looking to switch their Nationwide deal.

 

All customers who have a mortgage interview in a branch or over the phone before 30 September will be entered into a free prize draw and 10 lucky winners will have their mortgage payments up to £10,000 made by Nationwide for a whole year.   

 

Matthew Carter, Nationwide’s director of mortgages, said: “Nationwide is committed to offering good value mortgage deals in what has become a challenging time for borrowers. We are pleased to be in a position to reduce rates for the third time in six weeks, and will continue to look for opportunities to make further reductions, where possible. Customers can choose from a range of fee and rate combinations to suit their needs; whether they are buying a home, remortgaging, switching their current mortgage deal or taking a further advance.”

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Date: 10th, September, 2008

Author: Ben Wilkie

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