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25 September 2013
From Wednesday September 25 2013, Nationwide is supporting both new and existing customers, regardless of the size of their deposit, with reductions across its fixed and tracker mortgage range.
All two-year fixed rates available up to 60 per cent loan-to-value (LTV) will be cut by 0.10% and those up to 70 per cent LTV by 0.15% for new applications. The range includes the Society's lowest ever fixed rate deal, plus there are now two fixed and two tracker rate products available for both new and existing customers below 2%.
New customers can access rates of 1.94% up to 60 per cent LTV and 1.99% for those two year fixed and tracker products up to 70 per cent LTV. An additional 0.1% reduction is available on all rates for new applications from existing mortgage customers.
None of Nationwide's mortgage rates is being increased.
Key highlights include:
Nationwide is also reducing all 80% LTV mortgage rates by up to 0.3% and all 75% LTV mortgage rates by up to 0.15%. All two year and three year fixed rate 85% LTV and 90% LTV products will see a rate reduction of 0.05%.
Tracie Pearce, head of group mortgages at Nationwide, said: "These reductions clearly demonstrate our commitment to supporting our customers, both new and existing and whatever the size of their deposit, offering consumer choice.
"We are making available to our customers a range of extremely competitive fixed and tracker rates at different LTVs. In particular, the reduction of two-year fixed rates available up to 60 per cent LTV by 0.10% and 70 per cent LTV by 0.15% means we are offering rates to both new and existing customers below 2 per cent."
Notes to editors:
Free Standard Valuation:
Free standard legal fees for house purchase (on Flexclusive products only*) cover the conveyancer's professional charges relating to the house purchase only when using one of our panel legal firms. The customer will be liable for some additional fees relating to the disbursements, e.g. Land Registry fees and local authority searches. Due to Northern Irish law, Nationwide is unable to offer free legal fees for house purchases in Northern Ireland.
Cashback is payable one month after completion of the mortgage
Base Mortgage Rate
All mortgages reserved on or before 3 March 2010 include the option to apply for a payment holiday and borrow-back facility. Any mortgages reserved after this date will no longer include these facilities.
If the borrower is currently letting their property they will be unable to switch to a new mortgage deal and their mortgage will automatically revert to the Nationwide variable rate as stated in their mortgage offer.
Early repayment charges for fixed rate and tracker mortgages
Throughout the deal period, a percentage of the outstanding loan is payable as detailed below. Overpayments of up to 10% per annum are permitted without the need to pay an early repayment charge.
*To get access to our range of Flexclusive offers you must either:
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
About Nationwide Building Society
Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.
Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 15,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.