Nationwide: New deals on fixed and tracker mortgages

Date:Thursday 5th November 2009
Author: Susanna Kavka

Nationwide has announced it has cut the rate on selected fixed and tracker mortgages for buyers, remortgages, and FlexAccount customers.

For buyers there are two fixed-rate mortgages, the first at 3.78 per cent with a two-year tracker from 2.78 per cent and up to 70 per cent loan-to-value, the second at 3.88 per cent with a 2.99 per cent tracker.

Remortgaging customers have the choice of either a two-year fixed-rate mortgage at 4.37 per cent with a two-year tracker of 3.48 per cent at 60 per cent loan-to-value, or a two-year fixed rate of 4.87 per cent.

Customers with the FlexAccount as their main current account have the option of a two-year fixed-rate product with 5.98 per cent or a two-year tracker at 4.63 per cent, both with a 90 per cent loan-to-value.

Andy McQueen, mortgage director at Nationwide, said the company has made 19 rate cuts of up to 0.31 per cent on certain products to help those looking for a first or new home.

These cuts follower offers announced last month to encourage first-time buyers, such as a reduction in the reservation fee and on mortgages up to 95 per cent loan-to-value