Nationwide cuts mortgage rates

Nia Williams

January 7, 2010

The majority of cuts will be made on rates available on loans of between 70% and 85% LTV. The biggest reduction of 0.60% has been made on selected two year fixed rate deals available to house purchase customers at 80% LTV.

As well as other products, the mortgage product range available from Nationwide will include the following:

For those buying a home:

  • Two year fixed rate available from 3.69% (up to 70% LTV) and two year tracker available from 2.64% (up to 70% LTV). New customers can borrow up to 85% LTV and existing borrowers who are moving home can borrow up to 95% LTV. There is a £99 booking fee (payable upfront and non-refundable) and a £896 reservation fee.
  • Two year fixed rate available from 3.99% (up to 70% LTV) and two year tracker available from 2.94% (up to 70% LTV). New customers can borrow up to 85% LTV and existing borrowers who are moving home can borrow up to 95% LTV. There is a £99 booking fee (payable upfront and non-refundable). There is no reservation fee; free legals available.
  • Three year fixed rate available from 4.39% (up to 70% LTV) and three year tracker available from 2.99% (up to 70% LTV). New customers can borrow up to 85% LTV and existing borrowers who are moving home can borrow up to 95% LTV. There is a £99 booking fee (payable upfront and non-refundable) and a £896 reservation fee. There is a reservation fee discount available to first time buyers of £500 or £250 plus free legals.

Andy McQueen, mortgage director at Nationwide, said: “We are making a number of rate cuts across our mortgage range of up to 0.60%, with the biggest cut being on selected two year products available with a 20% deposit. This, together with the special offers we have available for first time buyers and house purchasers, is good news for those looking to move home in the New Year.”

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