6
Aug
Nationwide cuts price of mortgage deals
Nationwide has cut the price of several of its fixed and tracker
rate mortgage deals, the building society announced today.
Many of its mortgage rates will be reduced by up to 0.5 per cent,
while £99 of all existing reservation fees will become
non-refundable from August 4th, in a bid to offer better value to
new borrowers.
Nationwide mortgage director Andy McQueen said the firm had an
impressive selection of products for existing customers approaching
the end of their contract, including what he claimed were
particularly competitive two and three-year fixed rates
deals.
"We also offer a choice of capped variable rate mortgages from as
little as 2.99 per cent," he said.
"These mortgages provide assurance that the mortgage rate will not
rise above a certain level."
Mr McQueen added that the payment plans were ideal for borrowers
who are uncertain about how interest rates will move in the
future.
Nationwide made another significant mortgages announcement
recently, revealing that it is planning to launch three new
mortgage options for customers.
