Nationwide cuts price of popular fixed rate and tracker mortgages

Nationwide Building Society has announced that it is cutting the price of some of its fixed rate and tracker mortgage deals by up to 0.46%.

With effect from 18 July 2008 the Society will reduce the rates on its two, three and five year fixed rate and two year and lifetime tracker mortgages.

The Society is also making a small increase to rates on its two and three year tracker mortgages for borrowers with deposits of less than 10%.

Matthew Carter, divisional director for mortgages at Nationwide, said: "As a building society we always aim to offer our members the best possible deals. For the second time this month, we are in a position to reduce the rates on mortgages, offering some of the most competitive rates in the market. As part of our commitment to rewarding customer loyalty we now have a Lifetime tracker mortgage offering a good deal for customers who are switching their Nationwide mortgage.

"In addition to fees starting from £299 for first time buyers and the option to switch and fix on any tracker mortgage, customers can have confidence taking a mortgage with Nationwide whether they are buying, re-mortgaging or coming to the end of their existing deals".