New mortgage deals announced by Nationwide

Date:Thursday 7th January 2010
Author: Susanna Kavka

A range of new fixed-rate and tracker mortgage deals has been announced by Nationwide.

The building society has announced that it is to make cuts to loans available between 70 per cent and 85 per cent loan-to-value (LTV).

For buyers looking for a two-year fixed-rate deal there is a 3.69 per cent loan available at a LTV of up to 70 per cent.

The three-year deals available from Nationwide now include a fixed rate on offer for 4.39 per cent with a 70 per cent LTV, or a tracker loan of up to 70 per cent LTV which comes with a rate of 2.99 per cent.

Andy McQueen, mortgage director at Nationwide, said: "We are making a number of rate cuts across our mortgage range of up to 0.6 per cent, with the biggest cut being on selected two-year products available with a 20 per cent deposit.

Nationwide recently reported that house prices had increased by 5.9 per cent during 2009, with a 0.4 per cent increase during December alone.