Nationwide slashes mortgage rates

Thursday, 04 August 2011 01:34

Nationwide is slashing all of its five-year fixed and two-year tracker mortgage repayments for new customers.

It means the building society will offer a five-year fixed rate at 3.99 per cent - for loan-to-value ratios of up to 70 per cent - with a £99 booking fee.

All five-year fixed mortgage rates are being cut by 0.10 per cent, while two-year tracker rates are being reduced by 0.15 per cent.

Martyn Dyson, head of mortgages at Nationwide, said five-year fixed rate deals can be great for customers who want certainty when it comes to their personal finances and the decision to cut rates can be ideal for them.

"We're also reducing two-year trackers, which all come with a 'switch & fix' option, allowing customers to switch from their tracker to a fixed rate in our 'switch and fix' range without early repayment charges," he added.

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