Nationwide reduces rates on selected fixed rate mortgages

Nationwide is to reduce the majority of its two-year and three-year fixed mortgage rates for new applications.  All changes take effect on Wednesday 10 August 2011.

All two-year fixed mortgage rates will reduce by 0.25%
Selected three-year fixed mortgage rates will reduce by 0.50%

The rate improvements mean Nationwide will offer a market-leading three-year fixed rate at 2.89% (up to 70% LTV) with a £900 product fee and £99 booking fee - see below for details.

Martyn Dyson, head of mortgages at Nationwide, said: "We only reduced our five-year fixed mortgage rates last week, so this latest set of improvements is further great news for borrowers looking for new fixed rate deals. 

"With our new market-leading three-year product, you could fix for three years at less than 3%."

Market-leading three-year fixed rate available at 2.89% (up to 70% LTV)

£900 product fee, £99 booking fee (payable upfront and non-refundable) for house purchase and remortgage customers

£500 product fee discount for first-time buyers

Other rates up to 85% LTV also available

Deals with no product fee are also available

Two-year fixed rate available at 2.64% (up to 60% LTV)

£900 product fee, £99 booking fee (payable upfront and non-refundable) for house purchase and remortgage customers

£500 product fee discount for first-time buyers

Other rates up to 85% LTV also available

Deals with no product fee are also available

All other Nationwide mortgage rates remain unchanged.