Nationwide five-year fixed rate mortgage deals

With effect from Tuesday 25 May 2010, Nationwide will reduce selected rates on its five-year fixed rate mortgages.  The reductions range between 0.10% and 0.31%, with the average cut being 0.23%.

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

For those remortgaging

Rates for five-year fixed rate mortgages for those remortgaging are reducing across all tiers up to 75% LTV.

Five-year fixed rate reduced by 0.26% available from 4.88% (up to 70% LTV)

New customers can borrow up to 85% LTV.
£99 booking fee (payable upfront and non-refundable).
£896 product fee.
No valuation and legal fees as standard.

Five-year fixed rate reduced by 0.24% available from 5.44% (70-75% LTV)

New customers can borrow up to 85% LTV.
£99 booking fee (payable upfront and non-refundable).
£896 product fee.
No valuation and legal fees as standard.

For those buying a home:

Rates for five-year fixed rate mortgages for house purchasers are reducing across all tiers up to 85% LTV.

Five-year fixed rate reduced by 0.31% available from 4.68% (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.
 
Five-year fixed rate reduced by 0.20% available from 5.24% (70-75% 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: "I'm pleased to announce that we have reduced rates on our five-year fixed rate mortgage products.  The cuts of up to 0.31% could benefit those buying a house, remortgaging, looking for additional borrowing or looking to switch deals.  In particular, our five-year fixed rate mortgages available up to 75% LTV for house purchasers are now among the lowest rates in the market.

"And if you're a first time buyer, you will continue to receive a further £500 product fee discount on selected fixed and tracker rate deals; another great reason for first time buyers to take out a mortgage with Nationwide."