Nationwide fixed-rate mortgages withdrawn

Date:Friday 21st November 2008
Author: Rachel Fletcher

Nationwide mortgages for ten and 25-year fixed-rate deals are being withdrawn, the lender has announced.

Rates and fees on some fixed-rate mortgages are also being reduced.

In addition, first-time buyers can get a lower reservation fee of £299 on a three-year, fixed-rate deal as well as having £100 cut from their legal fees.

Matthew Carter, divisional director for mortgages at Nationwide, stated: "Existing Nationwide borrowers will continue to have access to a range of fixed-rate mortgages available at a reservation fee of only £299."

Rates for two-year fixed-rate deals now start from 4.98 per cent.

These products come with a fee of £599.

Meanwhile, the Coventry Building Society has announced its "best buy fixed-rate" mortgages in its Godiva Mortgages range.

They include a ten-year offset fixed-rate deal and a three-year offset fixed-rate product which does not have a fee.

In both products, remortgage transfer and valuations come without charge.

Godiva Mortgages has also announced new products for its lifetime mortgages, such as an offer with a 6.10 per cent fixed rate for customers aged 70 or over.