Nationwide cuts the price of fixed rate deals

Nationwide Building Society has announced it will be making some changes to its mortgage products, including cutting the price of its two year fixed rate mortgage deals and selected three and five year fixed rate deals by up to 0.80%.

The Society will also be withdrawing its ten and 25 year fixed rate products. These changes will be effective from Friday 21 November 2008.

Matthew Carter, divisional director for mortgages at Nationwide, said: "We are pleased to be able to cut the price of some of our fixed rate deals. Nationwide's two year fixed rate mortgage with a £599 fee is available from 4.98%, making it one of the most competitive on the high street.

"As part of our ongoing commitment to helping first time buyers we will continue to offer a lower reservation fee of £299 on our three year fixed rate mortgage. In addition to this, first time buyers are also eligible for £100 off their legal fees.

"Existing Nationwide borrowers will continue to have access to a range of fixed rate mortgages available at a reservation fee of only £299."