Nationwide announces new fixed and tracker mortgage deals

With effect from Tuesday 11 May 2010, Nationwide will reduce selected rates on fixed and tracker rate products across its mortgage range.  The reductions range between 0.05% and 0.60%, with the average cut being 0.30%.  The Society has also extended the maximum LTV to 85% on remortgage tracker deals.

The mortgage product range available from Nationwide will include the following:

For those remortgaging

Two-year fixed rate reduced by 0.30% available from 3.58% (up to 70% LTV)

New customers can borrow up to 85% LTV.
£99 booking fee (payable upfront and non-refundable).
£896 product fee.

Three-year fixed rate reduced by 0.21% available from 4.28% (up to 70% LTV)

New customers can borrow up to 85% LTV.
£99 booking fee (payable upfront and non-refundable).
£896 product fee.

Five-year fixed rate reduced by 0.14% available from 5.14% (up to 70% LTV)

New customers can borrow up to 85% LTV.
£99 booking fee (payable upfront and non-refundable).
£896 product fee.

For those buying a home:

Three-year tracker reduced by 0.51% available at 4.48% (75-85% 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 product fee.
£500 discount on product fee for first time buyers.

Two-year fixed rate reduced by 0.11% available from 3.38% (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 product fee.

Three-year fixed rate reduced by 0.41% available from 3.98% (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 product fee.
£500 discount on product fee for first time buyers.

Andy McQueen, divisional director for mortgages and general insurance at Nationwide, said: "We have further improved our mortgage range by reducing our interest rates on selected deals by up to 0.60%.  So whether you're buying a house, remortgaging, looking to switch deals or after additional borrowing, you may benefit from this latest drop in interest rates.  Some of our largest reductions are on our remortgage, Switch & Fix and further borrowing deals, in particular the two-year fixed rate products.

"Furthermore, our remortgage tracker mortgages are now available up to 85% LTV.  This enables us to continue to support those customers remortgaging with less equity."