View more on these topics

Nationwide launches 25-year fixed mortgage

Nationwide has launched a 25-year fixed rate mortgage.

The product includes a rate from 5.49%, and there are no early repayment changes after the first 10 years.

Features of the 25-year fixed rate mortgage include the ability to overpay by up to £500 per month, underpay and take payment holidays, portability, and one arrangement fee.

The product has a reservation fee of £599 with a £200 discount for existing borrowers and is available to all borrower types.

Stuart Bernau, executive director at Nationwide, says: “At Nationwide we are totally committed to our members because we have no shareholders to please.

“Our new 25-year fixed rate mortgage is a clear demonstration of this.

“It not only offers long-term good value to borrowers looking for the security of fixed payments but also the flexibility of a 10 year deal.

“This is the latest in a series of initiatives that have been designed to complement our existing mortgage product range – from short-term to long-term deals, whether buying a first home or a new home, switching lender or switching deal – we’ve got something to suit everyone.”

Recommended

RBS slashes BTL rate

Royal Bank of Scotland Intermediary Partners will be cutting the rate on its NatWest buy-to-let two-year fixed rate mortgage to 5.35% from 5.74%. The bank has also raised the LTV on interest only buy-to-let mortgages to 85% from 75%.

Base rate hikes unsettle borrowers, warns Fool.co.uk

Three interest rate hikes within the space of six months have unsettled Britains homeowners, says Fool.co.uk. A study into mortgage products taken out through the sites mortgage service shows that homeowners believe more interest-rate rises are on the horizon.A rate rise in August 2006 saw four out of 10 homeowners opt for fixed-rate mortgages. Another […]

Chilton takes over at Homeowners

Mark Chilton has been appointed chief executive of Network Data Holding’s lender Homeowners Mortgages.

C&G service is so bad I will never use the lender again

Regarding Jan Bull’s recent letter (Mortgage StrategyMarch 12) regarding her experience with Cheltenham & Gloucester prompted me to add my bit to the discussion. I have used C&G in the past and although slow, with a bit of gentle prodding it has eventually got there. My most recent case started on the December 18 2006 […]

Newsletter

News and expert analysis straight to your inbox

Sign up