Nationwide offers its lowest-ever fixed rate mortgage
Nationwide is offering the lowest-ever fixed rate mortgage in its history.
The new two year fixed rate deal available up to 60 per cent LTV has a rate of 1.84% for new mortgage customers, and 1.74% for existing mortgage customers. This comes with a £999 product fee, reduced to £499 for first time buyers.
In addition, the Society is reducing selected fixed and tracker rates across its mortgage range by up to 0.65%. Two year fixed rate deals are reduced by up to 0.55%, while three and four year fixed rate deals are reduced by up to 0.50% and start from 2.29%. Five year fixed rate mortgages are reduced by up to 0.55% and start at 2.84%.
Tracker rates are also reduced by up to 0.65%, with competitive rates starting at 1.44% for the two year tracker, available at up to 75 per cent LTV.
Nationwide’s Divisional Director of Mortgages and Savings Richard Napier said: “With our lowest-ever fixed rate mortgage deal, Nationwide continues to offer the best possible rates to customers. We are also demonstrating our mutual difference by offering competitive fixed rate and tracker deals to all mortgage customers, whilst continuing to offer additional discounts for existing mortgage customers and first time buyers.”
Other highlights include:
New 2.84% five year fixed rate up to 60 per cent LTV with £999 product fee (2.74% for existing Nationwide mortgage customers)
First time buyers pay a reduced product fee of £499
Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
New 1.44% two year tracker rate up to 75% LTV with £999 product fee (1.34% for existing Nationwide mortgage customers)
First time buyers pay a reduced product fee of £499
Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
Existing mortgage customers benefit from at least an additional 0.10% discount on all new customer rates. Nationwide also continues to offer its Loyalty Rate Mortgages initiative, which compares the Society’s mortgage rates for existing customers with those of its top six high street competitors and guarantees to offer the lowest comparative rate.