New Nationwide mortgages 'could open the door to applicants'

Date:Friday 24th September 2010
Author: Max Freedman

A new range of Nationwide mortgages could allow people to secure a home finance deal when otherwise they couldn't, according to a senior source at the firm.

Divisional director for mortgages Andy McQueen made his comments after the company announced that several arrangements have been launched that are "fee friendly".

From today (September 24th), a variety of fixed rate and tracker deals aimed at home-movers will be available with no product, valuation or standard legal charges, with the only initial payment being a £99 booking fee.

Mr McQueen said: "For many customers our 'fee-friendly' approach will mean the difference between being able to get the deal they want or being forced to stay put."

He suggested the current climate may be ideal for people to fix their mortgages, since several Nationwide mortgages of this type have had their interest rates cut by up to 0.3 percentage points.

Last week, the company published its consumer confidence index for August, which had risen five points to 61 from the previous month.