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Nationwide increases fixed rates

Nationwide is increasing the rates on its range of fixed rate mortgages, which will apply from January 19.

Highlights include a fee free two-year fixed at 5.23% and a five-year fixed, with a 499 fee, at 5.38%.

John Sutherland, marketing director at Nationwide, says: “Nationwide’s products are still very competitive for borrowers whether they are looking for a shorter-term deal or a longer-term fixed rate.

However, money market rates have been rising steadily and we have found it necessary to follow other lenders who have recently increased their rates.”

Nationwide says it will withdraw its current range of products on January 18.

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