View more on these topics

Nationwide cuts rates by up to 0.3%

Nationwide will reduce its rates by up to 0.3% on remortgages and house purchase products from tomorrow.

The biggest cuts are on mortgages available up to 85% LTV and with an average cut of 0.19%.

The new home purchase deals include a two-year tracker at 75-80% LTV reduced by 0.20%, now available at 3.68%.

A two-year fixed rate at 80-85% LTV is being reduced by 0.3% and is now available at 4.69%.

And a three-year fixed rate at 75-80% LTV is being reduced by 0.2%, now available at 4.89%, and a five-year fixed rate at 80-85% LTV which is being reduced by 0.3% available at 5.99%.

Martyn Dyson, head of mortgages at Nationwide, says: “In particular, the two-year fixed rate deal with an £896 product fee available up to 85% LTV for house purchasers is very competitive.

“What’s more, cash-back offers and discounts remain available.  Existing customers who take a new Nationwide mortgage when either moving home or switching at the end of their deal can receive £300 cash-back, while first time buyers can receive a £500 product fee discount on selected products.

“Customers who want the lower rates currently available on tracker mortgages, but value the security of a fixed rate, can select a tracker now knowing that they can switch to a fixed rate at a later date without having to pay any Early Repayment Charge.  Alternatively, they can, from the outset, opt for a mixture of tracker and fixed rate deals.”

Recommended

Slimmed-down solicitor panel will help us limit fraud, claims Lloyds

Lloyds Banking Group says fraud played a part in its decision to cut its solicitor panel across all of its brands. Mortgage Strategy understands the bank is looking to cut from its panel all solicitors that do not submit at least one case a month. A spokeswoman for Lloyds says solicitors that do not do […]

jonathan_cornell_143x175.gif

Marketwatch

Lloyds Banking Group’s decision to trim its solicitor panel is primarily to do with clamping down on mortgage fraud and I’m sure other lenders will soon follow suit

Media spotlight: The Third Man

By Peter Mandelson If arch Labour spinner Peter Mandelson’s memoirs are to be believed former Prime Minister Gordon Brown is a profane and short-tempered liar.After deciding against calling a general election in 2007 Brown was asked point blank in Parliament by Conservative leader David Cameron if he would have failed to call an election if […]

Newsletter

News and expert analysis straight to your inbox

Sign up