Nationwide remortgage deals could save home-owners thousands.

In an increasingly competitive market place switching to a Nationwide remortgage deal could save home-owners thousands of pounds.

The CML estimate that by remortgaging, home-owners could save on average around £1200 per year, which is a large sum of money when considered over the full term of a mortgage.

Nationwide remortgage packages include variable, tracker and fixed rate deals, interest is calculated daily and there are options available that include penalty free over and underpayment.

The lender has announced that it is extending it's range of 90 per cent LTV fixed rate mortgage deals and is including a range of 2 year products to benefit first-time buyers. The lender has however advised that the new 2 year products will not just be aimed at first-time buyers and will be open to all borrowers. As part of the move, the group is offering a rate of 5.29 per cent with a £900 product fee - or a rate of 5.69 per cent without any added cost.

Martyn Dyson, head of mortgages at Nationwide said the lender is showing continued support for the UK housing market by launching some of the best deals around. The Nationwide offer a range of fixed rate mortgages at 90 per cent LTV. This range includes 2 year, 3 year and 5 year fixed rate deals. Mr Dyson also advised that further price alterations are to be made to a select number of Nationwide remortgage packages.