6 Aug

Nationwide cuts price of mortgage deals

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.

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