Nationwide launches market leading 10-year fix
The product comes with a £999 product fee, reduced to £499 for first-time buyers and remortgage customers benefit from free standard valuation and the choice between free standard legal work or £250 cashback.
Additionally the lender has cut its rates on a number of products with 5-year fixed rate deals being reduced by up to 0.40% with rates starting from 2.44% whilst a wide range of 2 and 3-year fixed deals have also been reduced.
The 2-year fixed rates now start at 1.74% for new mortgage customers and both 3-year fixed rates and the 4-year fixed rate Flexclusive deals, available only to Nationwide’s main current account customers, both now start at 2.24%.
Richard Napier, Nationwide’s director of mortgages and savings, said: “There has been a growing trend of customers opting for longer term fixed rates to ensure certainty of monthly mortgage payment, particularly ahead of any rise in interest rates, with the recently-introduced 10-year fixed rate mortgages proving a popular addition to the range.
“This competitive range of new fixed rate mortgage deals is likely to appeal to both first time buyers and those looking to remortgage by ensuring longer term security of mortgage payments.”