Nationwide cuts rates on fixed and tracker mortgage deals

Nationwide Building Society cuts fixed and tracker rates on selected house purchase products. With effect from Friday 11 December 2009, the mortgage product range available from Nationwide will include the following:

For those buying a home:

Two year fixed rate available from 3.69% (up to 70% LTV) and two year tracker available from 2.64% (up to 70% LTV)

New customers can borrow up to 85% LTV
Existing borrowers who are moving home can borrow up to 95% LTV
£99 booking fee (payable upfront and non-refundable)
£896 reservation fee

Two year fixed rate available from 3.99% (up to 70% LTV) and two year tracker available from 3.24% (up to 70% LTV)

New customers can borrow up to 85% LTV
Existing borrowers who are moving home can borrow up to 95% LTV
£99 booking fee (payable upfront and non-refundable)
Combined no reservation fee and free legals offer available

Three year fixed rate available from 4.39% (up to 70% LTV) and three year tracker available from 2.99% (up to 70% LTV)

New customers can borrow up to 85% LTV
Existing borrowers who are moving home can borrow up to 95% LTV
£99 booking fee (payable upfront and non-refundable)
£896 reservation fee (reservation fee discount available to first time buyers of £500 or £250 plus free legals)

Andy McQueen, mortgage director at Nationwide, said: "We are making widespread rate cuts on the majority of our house purchase products of up to 0.29%.  This, together with the special offers we have available for first time buyers and house purchasers, is good news for those trying to get on the housing ladder or secure a new home."