New deals at Nationwide set to cheer homebuyers |
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Published
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Wed, 25 May 2005 19:30
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Good times seem to be ahead for people considering a home purchase or a remortgage, as far as Nationwide is concerned.
Indicating the latest movements in the money markets, the Nationwide Building Society has launched its new range of fixed-rate mortgages, including its two-year fixed rate mortgage, which is supposed to be the ‘lowest’ two year fixed rate mortgage.
Revealing the details of its new products, Nationwide said that all its fixed rate deals, whether two-year, three-year or even five to ten year deals were one of the best deals available amongst top lenders in the industry, in terms of price.
The society’s two-year fixed-rate mortgage along with reservation fee would be offered from 4.69 % against 4.95 %, while the mortgage without the reservation fee would be available at 5.09 %, less than 5.35%.
| Even the three and five-year fixed-rate mortgages had similar rates, with loans including reservation fee were priced, down from 5.09 %, at 4.89 %, while those excluding the reservation fee would be available from 5.29 % against 5.49%.
Moreover, a ten-year fixed-rate mortgage could be purchased at 4.99 % instead of 5.09 % with the reservation fee, whereas without the reservation fee, these long-term loans would cost 5.39 % against 5.49 %.
Executive director of Nationwide, Stuart Bernau, said, “Our competitive fixed rate mortgages are now some of the lowest available, which is great news for homebuyers and people looking to remortgage. With Nationwide, borrowers' savings will also continue into the future as our standard variable rate betters the major players in the mortgage market by 75 basis points.”
Nationwide’s fixed-rate and tracker mortgages were offered to all kinds of borrowers, besides being reasonably flexible as far as payments were concerned; as they permitted extra payments or even underpayments by borrowers over the deal term.
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