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21 January 2013
With effect from Friday January 18, Nationwide Building Society is cutting rates on its two-year fixed rate mortgages by up to 0.10 percentage points. It means the Society will offer a two-year fixed rate for new borrowers at a competitive 2.49 per cent. Existing borrowers will continue to benefit from rates 0.10 percentage points lower than new business rates, with rates for these customers now starting from 2.39 per cent.
Key highlights include:
Tracie Pearce, head of group mortgages at Nationwide, said: "These latest cuts paint a vibrant mortgage picture and are positive news for borrowers looking for the most competitive deals in the market.
"All eyes will be on our new two-year fixed rate deal at 2.49 per cent, which is an extremely attractive deal for new customers.
"And with the other cuts that have recently taken place across our fixed rate mortgage range, there is something for all borrowers, whether they have a larger or smaller deposit."
The two-year fixed rate NewBuy product will remain unchanged.
Key features of the fixed and tracker mortgage product range for new applications
Main FlexAccount and FlexDirect customers benefit from exclusive mortgage offers; including the popular Flexible Mortgage. For eligibility criteria:http://www.nationwide.co.uk/current_account/why_choose_us/default.htm
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.