Nationwide introduces two-year tracker

Nationwide is making some changes to its mortgage products, including the launch of a two-year tracker mortgage.

The society is also extending the choice of mortgage products available to existing borrowers who are moving home and require additional borrowing at higher loan to values. These changes will be effective from December 17 2008.

Matthew Carter, divisional director of mortgages at Nationwide, says: “We are pleased to be in a position to re-enter the tracker mortgage market with a new two year product.

“Nationwide borrowers already benefit from a range of flexible features including the ability to move their existing mortgage without additional charge. As part of our ongoing commitment to existing borrowers during these difficult times, we have introduced a new, higher, LTV tier.

“The new tier, which is available to Nationwide customers who are moving home and require additional borrowing, will ensure that they continue to benefit from a range of fixed and tracker mortgage options.”