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Nationwide cuts its rates again

Nia Williams

January 30, 2013

It means the society will offer a three-year fixed rate for new borrowers with a 40% deposit at 2.59%, with rates for new customers with a 25% deposit now starting from 2.89%.

Existing borrowers will continue to benefit from rates 0.10 percentage points lower than new business rates.

Key highlights to the changes include:

• New 2.59% three-year fixed rate up to 60% LTV with £900 fee (2.49% for existing borrowers)

• New 2.89% two-year fixed rate up to 75% LTV with £900 fee (2.79% for existing borrowers)

• First time buyers pay a reduced fee of £400

• Remortgage borrowers receive a free standard valuation and the choice of either free standard legals or £250 cashback, payable one month after completion

• A non-refundable booking fee of £99 is payable on reservation

• First time buyers pay a reduced fee of £400

• Remortgage borrowers receive a free standard valuation and the choice of either free standard legals or £250 cashback, payable one month after completion

• A non-refundable booking fee of £99 is payable on reservation

• New 2.49% two-year tracker rate up to 60% LTV with £900 fee (2.39% for existing borrowers)

Tracie Pearce, head of group mortgages at Nationwide, said: “Nationwide is demonstrating that it really is open for business by announcing its fourth rate cut in January alone.

“These reductions clearly demonstrate our commitment to offer competitive, quality and affordable products to both new and existing customers, at all LTVs.”


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