Nationwide mortgage rates cut for house purchasers
With effect from Thursday 1 July 2010, Nationwide will reduce selected rates on its mortgages deals for those buying a home. The reductions range between 0.09% and 0.29% points, with the average cut being 0.19%.
For those buying a home, the mortgage product range includes the following:
Two-year fixed rate reduced by 0.19% available at 3.19% (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 0.09% available at 3.89% (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 0.19% available at 4.49% (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
Three-year tracker reduced by 0.29% available at 2.69% (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: "I'm delighted to announce that house purchasers looking for a Nationwide mortgage can now enjoy rate cuts of up to 0.29% points. These are very competitive deals and, in particular, our two, three and five-year fixed rate deals with £896 product fee available up to 70% LTV are amongst the lowest in the market.
"The £300 cash-back deal for existing mortgage customers who take a new Nationwide mortgage when either moving home or switching at the end of their deal continues to be available. Furthermore, if you're a first time buyer, you will continue to receive a further £500 product fee discount on selected fixed and tracker products; another great reason to take out a mortgage with Nationwide."