Nationwide reduce their 5 year fixed rate mortgage
Nationwide have recently announced a number of mortgage pricing changes. The lender has reduced by 0.10%, its 5 year fixed rate mortgage between 75% and 85% LTV. The new fixed rate deal comes with a £999 product and booking fee, first-time buyers will benefit from a £500 product fee discount. Their new mortgage rates came into effect on Wednesday 30 November 2011.
Nationwide also made various other pricing changes. Its 2 year tracker mortgage at 85% LTV, was cut from base plus 3.04% to base plus 2.99%. The same product fees apply, as with the 5 year fixed rate mortgage. Also adjusted were their 2 and 3 year fixed mortgage rates. Their tracker mortgage rates, available up to 70% LTV, have been increased by between 0.05% and 0.10%. All rates at 75% LTV and above have either been left unchanged or have improved.
Martyn Dyson, head of mortgages at Nationwide, says: “Nationwide is committed to helping borrowers with smaller deposits obtain competitive mortgage rates. The 0.10% reduction on our 5 year fixed rate mortgage between 75% and 85% LTV will help those who have a smaller deposit and are looking for a longer term fix.”
