New fixes from Nationwide

July 12, 2005

Nationwide Building Society has announced details of its new fixed rate mortgage range - the rates set to come in with immediate effect.

First up is a 2-year fix charging 4.39% on a maximum LTV of 90% - the corresponding rate for a loan up to 95% being 4.69% (previously 4.99%). Both rates assume a reservation fee. Without the reservation fee rates are 4.79% and 5.09%.

Also being made available are revised 3, 5 and 10-year deals charging 4.59%, 4.69% and 4.89% respectively - all assuming a maximum LTV of 90% and with a reservation fee applied. For loans up to 95% corresponding rates are 4.89%, 4.99% and 5.19% - again with a reservation fee applied.

Where there is no reservation fee and where the maximum LTV is up to 90%, comparable rates are 4.99%, 5.09% and 5.29%. For 95% loans the rates are 5.29%, 5.39% and 5.59%.

Fewer changes have been made to the society's tracker facilities. Indeed for loans up to 90% they are unchanged. However those wishing to borrow up to 95% will see general reductions of 0.20% - with or without the imposition of a reservation fee.

All new fixed rate and tracker mortgages allow borrowers the additional flexibility to overpay or underpay during the deal period and are available to all borrowers.

Early repayment charges start 2%, 3% and 5% for the 2, 3 and 5-years deals respectively - reducing by 1% annually. The 10-year deal charges 5% at the outset - this reducing buy 0.5% annually.

Source: MoneyExtra