Nationwide cuts rates on three-year fixed rate mortgages

Nationwide is to decrease the interest rates of all its three-year fixed rate mortgages by up to 0.2%. The changes will take effect from Friday, 15 April 2011.

Three-year fixed rates include:

3.79% (up to 70% LTV) for house purchase, remortgage and switcher customers

House purchase and remortgage: £900 product fee, £99 booking fee (non-refundable and payable up front)
Switcher: £999 product fee
No standard valuation or standard legal fees for remortgage customers
New customers can borrow up to 85% LTV with rates starting from 5.29%

4.09% (up to 70% LTV) for house purchase, remortgage and switcher customers

House purchase and remortgage: no product fee, £99 booking fee (non-refundable and payable up front)
Switcher: no product fee
No standard valuation or standard legal fees for remortgage customers
New customers can borrow up to 85% LTV with rates starting from 5.59%

Martyn Dyson, Nationwide's head of mortgages, said: "Whether you're buying a house, remortgaging or switching at the end of your Nationwide mortgage deal, you'll be able to take advantage of our improved three-year fixed rates.

"Switcher customers continue to receive £300 cash-back, plus are able to enjoy rates that are no higher than those for house purchase and remortgage customers."

All other mortgages by Nationwide, including its five-year fixed rate at 4.39% up to 70% LTV, remain unchanged.