28 Apr

First-time buyers to benefit from Nationwide offer

First-time buyers to benefit from Nationwide offer

First-time buyers signing up to Nationwide's three-year fixed or tracker mortgages will be eligible for a £300 discount on the reservation fee and a £100 discount on legal fees from Thursday.

Both products are available up to 95 per cent loan-to-value and have no higher lending charges. The three-year fixed-rate is 5.75 per cent, while the three-year tracker has a rate of 5.74 per cent.

Nationwide's divisional director for mortgages Matthew Carter commented: "As a building society it is important to us to support first-time buyers who may be struggling to get onto the housing ladder."

He added that the discounts would make it easier for first-time buyers to access "fair and transparent mortgages".

Subsequent to the disappearance of all 100 per cent loan-to-value mortgages from the market, the Council of Mortgage Lenders found that many people are turning to their families for help in raising their first deposit.

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