Nationwide cuts rates

Robyn Hall

July 15, 2015

The reductions are being made on a range of 2, 3 and 5-year fixed rate deals, with rates for those with a 10% deposit starting at 3.14% for the 2-year fixed rate products, 3.49% for the 3-year products and 3.74% for the 5-year products.

Henry Jordan, Nationwide’s head of mortgages, said: “We are offering a range of reductions to both new and existing customers across the range, particularly focussing on customers who have smaller deposits and are looking for payment security over the short, medium and longer term.

“The new rates will especially benefit first time buyers, with a competitive 2-year fixed rate mortgage product with a £999 fee available up to 90% LTV reduced by 0.10% to 3.14%.

“First time buyers will also qualify for a £500 cashback irrespective of which product they chose. This is in addition to the benefits available on the Flexclusive range of mortgages, and a cashback of up to £1,000 available on the Save to Buy mortgage deals.

“With a number of cashback offers and rate reductions available to mortgage customers, we can offer tangible benefits when choosing a Nationwide mortgage, whether opting for a product without or without a fee.”

There are also a wide range of reductions across the Flexclusive 4-year fixed rate mortgage deals, available to Nationwide main current account holders, with rates starting at 2.29% with no fee.

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