Nationwide simplifies core range and launches TMW prime
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Nationwide has today unveiled a major simplification of its core mortgage range and launched a broker exclusive prime range via The Mortgage Works.
Along with a simplified and straight-forward product range it is also reducing products rates by up to 96 basis points. The same core product range will also be available via telephone, its branches and brokers.
The core mortgage product range available from Nationwide via brokers will include two, three and five-year fixed rates and two and three-year tracker rate mortgages. The two-year products come with a choice of £896 or £0 product fees and a £500 product fee discount remains available for first-time buyers on three and five-year fixed rates and three-year tracker products.
The super-mutual has also simplified its lending limits and has moved to the following structure across its range.
| LTV | Max Loan |
| 95% | £250,000 |
| 90% | £500,000 |
| 85% | £750,000 |
| 80% | £1,000,000 |
But Nationwide says it also recognises that many brokers appreciate choice and to that end Nationwide’s specialist lending brand The Mortgage Works has today launched a brand new range of prime mortgages.
Available exclusively to brokers, TMW’s prime range includes free valuation on purchases, capped trackers, early repayment charge free trackers, a range of cash back options and a lifetime variable rate product. Other highlights to the range include a two year early redemption charge free tracker from 2.99% up to 75% LTV, and a range of two, three, four, five and seven-year fixed rate mortgages from 2.59%.
Paul Howard, head of corporate accounts at Nationwide,says: “This is a big big range of products that we think brokers will find very useful and a customer will only be able to get them by going to an intermediary.”
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