Nationwide mortgage interest rates cut

Date:Monday 10th May 2010
Author: Susanna Kavka

The interest rates of selected Nationwide mortgages have been cut and a spokesperson for the organisation has highlighted the extent of the changes.

Divisional director for mortgages and general insurance at the institution Andy McQueen pointed out that some deals have seen the rates reduced by up to 0.6 per cent.

He also noted that remortgage tracker arrangements are now available for up to 85 per cent loan-to-value purchases, which means that people with less equity in their homes can benefit.

"Whether you're buying a house, remortgaging, looking to switch deals or after additional borrowing, you may benefit from this latest drop in interest rates," he remarked.

Nationwide remortgages such as the two, three and five-year fixed-rate products are included in the interest reductions, as well as the three-year tracker and two-year fixed rate mortgage arrangements.

Last week, the firm announced that its consumer confidence index for April will be unveiled on Thursday May 13th.