Nationwide reduces rates and offers fee free deals
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Nationwide is introducing a number of changes to its mortgage range tomorrow and launching a range of fee free deals.
Its tracker rates at 70% LTV for house purchase and remortgage customers have been reduced by up to 45 basis points, the average rate change across the mortgage range is 0.18%.
Existing mortgage customers who take a new Nationwide mortgage when either moving home or switching at the end of their deal get the same deal as new customers and can receive £300 cash-back.
The remortgage product range from Nationwide will include the following:
Two-year tracker rate available at 2.49%, up to 70% LTV
£900 product fee, £99 booking fee (payable upfront and non-refundable)
No standard valuation or standard legal fees
New customers can borrow up to 85% LTV
Three-year fixed rate available at 3.69%, up to 70% LTV
£900 product fee, £99 booking fee (payable upfront and non-refundable)
No standard valuation or standard legal fees
New customers can borrow up to 85% LTV
Five-year Flexible Mortgage tracker rate available at 2.75%, up to 70% LTV
Exclusively available to main FlexAccount customers
No product fee, £99 booking fee (payable upfront and non-refundable)
Unlimited overpayments, no early repayment charges
No standard valuation or standard legal fees
New customers can borrow up to 85% LTV
Andy McQueen, mortgages director at Nationwide, says:“We are not only improving rates on many deals but also building on the success of our fee-friendly remortgage products by introducing options with no product fees to our entire mortgage range, benefiting those who prefer lower upfront costs with their mortgage.
“Our tracker mortgages include the option to switch & fix deal at a later date, where these customers can move onto a fixed rate from our switch & fix range midway through their tracker deal without incurring Early Repayment Charges.
“So if you’re not sure what the Bank of England Base Rate will do next but you don’t want to fix just yet, consider one of our trackers, knowing that you can fix at a later date.”
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