1 Jul

Nationwide launches new mortgage rate cuts

Nationwide launches new mortgage rate cuts

Nationwide has announced it has cut mortgage rates for homebuyers.

From today (July 1st), the financial services company will offer a reduction of up to 0.29 per cent on its mortgage deals.

Divisional director for mortgages and general insurance at Nationwide Andy McQueen said: "These are very competitive deals and in particular, our two, three and five-year fixed rate deals with £896 product fee available up to 70 per cent loan-to-value (LTV) are among the lowest."

One of the offers is for homebuyers to take out a three-year tracker mortgage at 2.69 per cent with a 70 per cent LTV.

This deal also offers first-time buyers a £500 discount on the product fee.

Existing mortgage customers will also be able to receive cash back of £300 if they take out a new loan when moving home.

Meanwhile, Nationwide's recent house index revealed the value of houses rose by 0.1 per cent over June and three per cent since the beginning of 2010.

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