Nationwide cuts the price of fixed rate mortgage deals

Nationwide Building Society has announced that it is cutting the price of its two, three and five year fixed rate deals by up to 0.25%, these new rates are available for those looking to remortgage, switch product or take a further advance. The new rates will be available from 8 August 2008.

Existing Nationwide borrowers will also benefit as the Society is, for a limited period only, waiving the £599 reservation fee for existing borrowers switching to the fixed and tracker products which currently have this fee.

Martyn Dyson, head of mortgages at Nationwide, said: "As a building society we always aim to offer our members the best possible deals. Once again we are in a position to reduce rates on a number of deals available to customers wishing to remortgage, switch their current mortgage deal or take a further advance. As part of our commitment to rewarding customer loyalty we are also now waiving the £599 fee for existing borrowers wishing to switch deal.

"Customers can have confidence taking a mortgage with Nationwide whether they are buying, re-mortgaging or coming to the end of their existing deals."

Full details of Nationwide's product range are shown below. The changes outlined above will take effect from 8 August 2008.

In addition, the chance to be "mortgage payment free" for a year (up to a maximum of £10,000) remains available - all customers who have a mortgage interview in a branch or on the phone between 28 July and 30 September will be entered into a free prize draw and 10 lucky winners will have their mortgage payments made by Nationwide for a whole year.