24 May

New mortgage offerings 'are good news for homeowners'

New mortgage offerings 'are good news for homeowners'

A range of new home loans have been described by the firm behind them as good news for consumers.

Nationwide is launching a selection of five-year fixed-rate deals, which it says are among the most competitive on the market.

Divisional director for mortgages and general insurance at the firm Andy McQueen said: "I'm pleased to announce that we have reduced rates on our five-year fixed-rate mortgage products."

He added that 0.31 per cent falls in the price of loans could benefit people seeking to secure real estate.

Among the products being advertised by Nationwide is one that lasts for five years at 4.88 per cent on loan-to-value ratios of up to 70 per cent.

Last week, the Council of Mortgage Lenders revealed that a total of around £10.2 billion was lent to consumers for the purposes of house purchasing over the course of April, which was broadly in line with its expectations.
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