Nationwide reduces save to buy mortgage rates at 95% LTV
Nationwide Building Society is supporting first time buyers and home movers with smaller deposits by launching two new 2 year fixed rates at 95 per cent loan to value (LTV). The rates of 4.99 per cent with a £900 product fee and 5.39 per cent with no product fee are for customers using the Society’s Save to Buy scheme or its existing mortgage customers moving home or wishing to switch products.
With Nationwide mortgages, first time buyers receive a £500 discount on the product fee for all mortgages with a £900 product fee. Existing Nationwide mortgage customers moving home or switching products benefit from an additional 0.10 per cent rate reduction for new applications.
Main Details:
New 4.99 per cent two year fixed rate up to 95 per cent LTV with £900 product fee (4.89 per cent for existing Nationwide mortgage customers)
First time buyers pay a reduced product fee of £400
Save to Buy customers could earn a cashback amount of up to £1000, dependent on the level of their savings
Non-refundable booking fee of £99 is payable on reservation
New 5.39 per cent two year fixed rate up to 95 per cent LTV with no product fee (5.29 per cent for existing Nationwide mortgage customers)
Save to Buy customers could earn a cashback amount of up to £1000, dependent on the level of their savings
Non-refundable booking fee of £99 is payable on reservation
Tracie Pearce, Head of Group Mortgages at Nationwide, said: “These new products at 95 per cent LTV are further evidence that Nationwide is strongly committed to playing a leading role in the financing of the housing market, by supporting both first time buyers and home movers. We enable homebuyers with smaller deposits to access very competitive rates - nearly one in four of the mortgages we provide are to first time buyers.”
Also effective from Friday 24 January, all other products at 95 per cent LTV will be decreased by 0.3 percentage points.
For more information, visit nationwide.co.uk.