Nationwide mortgages interest cuts 'make deals more competitive'

Date:Thursday 1st July 2010
Author: Max Freedman

Consumers may find that several Nationwide mortgages are more competitive as a result of cuts to the interest charged, according to a spokesperson for the firm.

Andy McQueen, divisional director for mortgages and general insurance at the organisation, said he is delighted to be able to introduce these changes.

The Nationwide mortgages that have been reduced in price are the two, three and five-year fixed-rate arrangements and the three-year tracker product.

Each of these home finance tools have seen their interest rates cut by between 0.09 and 0.29 per cent.

Mr McQueen added: "These are very competitive deals and, in particular, our two, three and five-year fixed-rate deals with £896 product fee available up to 70 per cent LTV are amongst the lowest in the market."

Nationwide recently published research that indicated houses in the south-west of England have seen the most significant increase in price over the past three months.