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30 January 2013
With effect from Wednesday 30 January, Nationwide Building Society is cutting its tracker rates by up to 0.50 percentage points and selected fixed rates by up to 0.30 percentage points. It means the Society will offer a three-year fixed rate for new borrowers with a 40% deposit at 2.59 per cent, with rates for new customers with a 25% deposit now starting from 2.89 per cent.
Existing borrowers will continue to benefit from rates 0.10 percentage points lower than new business rates.
Key highlights include:
Tracie Pearce, head of group mortgages at Nationwide, said: "Nationwide is demonstrating that it really is open for business by announcing its fourth rate cut in January alone.
"These reductions clearly demonstrate our commitment to offer competitive, quality and affordable products to both new and existing customers, at all LTVs."
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.