Nationwide lowers mortgage rates

Monday, 24 May 2010 12:00

New fixed-rate mortgages have been launched by Nationwide with an average reduction of 0.23 per cent.

The lower rate deals, available from tomorrow (May 25th), start at 4.88 per cent for remortgages and 4.68 per cent for buyers.

Andy McQueen, divisional director for mortgages and general insurance at Nationwide, said: "Our five-year fixed-rate mortgages available up to 75 per cent LTV (loan-to-value) for house purchasers are now among the lowest rates in the market."

Each deal has an upfront, non-refundable £99 booking fee and first-time buyers could receive a £500 discount on the £896 product fee.

The maximum levels of LTV range from 75 to 95 per cent, depending on circumstances.

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