Nationwide cuts selected mortgage rates

From Friday 6 August 2010, Nationwide will reduce rates by up to 0.30% on selected mortgages for remortgage and house purchase customers. 

The biggest cuts are on mortgages available up to 85% LTV and will, in particular, help customers with smaller deposits.  The average cut will be 0.19%.

Martyn Dyson, head of mortgages at Nationwide, said: "Borrowers thinking of remortgaging or buying a home this summer can now look forward to rate cuts of up to 0.30% with Nationwide.  In particular, the two-year fixed rate deal with an £896 product fee available up to 85% LTV for house purchasers is very competitive.

"What's more, cash-back offers and discounts remain available.  Existing customers who take a new Nationwide mortgage when either moving home or switching at the end of their deal can receive £300 cash-back, while first time buyers can receive a £500 product fee discount on selected products.

"Customers who want the lower rates currently available on tracker mortgages, but value the security of a fixed rate, can select a tracker now knowing that they can switch to a fixed rate at a later date without having to pay any Early Repayment Charge.  Alternatively, they can, from the outset, opt for a mixture of tracker and fixed rate deals."