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Nationwide cuts mortgage deals

Friday 8th January 2010

From today, Nationwide has cut rates on a number of fixed and tracker rate products available to those buying a home.

The majority of cuts will be made on rates available on loans of between 70 and 85 per cent LTV. The biggest reduction of 0.60 per cent has been made on selected two year fixed rate deals available to house purchase customers at 80 per cent LTV.

The Nationwide range includes a two year fixed rate available from 3.69 per cent (up to 70 per cent LTV) and a two year tracker available from 2.64 per cent (up to 70 per cent LTV) for home buyers. New customers can borrow up to 85 per cent LTV and existing borrowers who are moving home can borrow up to 95 per cent LTV.
The loans offer a GBP 99 booking fee and a GBP 896 reservation fee.

The range also includes a two-year fixed rate available from 3.99 per cent up to 70 per cent LTV and a two year tracker available from 2.94 per cent (up to 70 per cent LTV).

A three year fixed rate is also available from 4.39 per cent (up to 70% LTV) and three year tracker available from 2.99 per cent (up to 70% LTV).

Andy McQueen, mortgage director at Nationwide, said: “We are making a number of rate cuts across our mortgage range of up to 0.60 per cent, with the biggest cut being on selected two year products available with a 20 per cent deposit. This, together with the special offers we have available for first time buyers and house purchasers, is good news for those looking to move home in the New Year.”

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