Nationwide drops fixes but stays away from trackers
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Natalie Holt
Nationwide is cutting fixed rate deals by up to 0.80% but has confirmed it has no current plans to introduce new trackers.
The lender is offering a two-year fixed rate deal at 4.98% with a £599 fee. First-time buyers qualify for a lower reservation fee of £299 on three-year fixed rate products.
But following Nationwide’s decision to withdraw its tracker range earlier this month, the lender says it has no immediate plans a new tracker product range.
A statement from the lender says: “Once market conditions have become more stable, Nationwide will review its existing mortgage range and consider whether it is appropriate to introduce new [tracker] products.”
Nationwide has also decided to withdraw its ten and 25-year fixed rate products.
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