Nationwide announces new mortgage rates

Date:Friday 11th December 2009
Author: Max Freedman

Nationwide Building Society ahs announced it is to cut the rates on selected fixed and tracker mortgages.

The building society now provides a two-year fixed-rate product at 3.69 per cent and a two-year tracker mortgage at 2.64 per cent, which are both available with a loan-to-value (LTV) of up to 70 per cent.

For those looking for three-year products with a LTV of up to 70 per cent, there is a fixed-rate mortgage on offer at 4.39 per cent and a tracker for 2.99 per cent.

Andy McQueen, mortgage director at Nationwide, said: "We are making widespread rate cuts on the majority of our house purchase products of up to 0.29 per cent."

He added that, in conjunction with these reductions, there is a series of offers available for both first time buyers and those who are looking to purchase a new home.

The new products follow the announcement by the provider earlier this month that it has seen house prices increase by 0.5 per cent in November when compare to their October valuations.