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Nationwide cuts the price of fixed rate mortgage deals

Friday, 13 February 2009 1:20 PM

Nationwide Building Society today announces it is cutting the price of its fixed rate mortgage deals by up to 0.20 per cent.

With effect from February 17th, the society will reduce its two, three and five year fixed rates for new borrowers, remortgagers and existing borrowers who are switching at the end of their current deal.

The society will also launch a new tracker mortgage range including two and three year mortgage deals.

Andy McQueen, mortgage director at Nationwide, said: "We are increasing our mortgage product range with the re-launch of a two year tracker and a new three year tracker for those customers who are looking for a longer term tracker deal. We are also cutting the price of our fixed rate mortgage deals. Our two year fixed rate is available from 3.98 per cent.

"In response to customer demand, for those borrowing smaller amounts in the form of a further advance, we have introduced a new lifetime tracker with £195 fee. Borrowers now have the choice between fixing their rate and having a longer term tracker product."

In addition to this, Nationwide is making some changes to its further advance mortgage range, including a new low fee product suitable for smaller advances.

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