Mortgages - Nationwide cuts (some) fixed rate deals

Nationwide Building Society has announced that it's cutting the price of some of its fixed rate mortgage deals by up to 0.30%. Effective May 16th, it will reduce the rates on its 2-year and 5-year fixed rate mortgages.

The new rates are as follows:

House Purchase: 2-year fixed rate (with £599 fee) available from 5.95% (previously 6.10% with £499 fee); 2-year fixed rate (no fee) available from 6.35% (previously 6.50%) and 5-year fixed rate (with £599 fee) available from 5.85% (previously 6.15% with £699 fee).

For those remortgaging and taking out additional borrowing there are the following offers: 2-year fixed rate (with £599 fee) available from 6.15% (previously 6.30% with £499 fee); 2-year fixed rate (no fee) available from 6.55% (previously 6.70%) and 5-year fixed rate (with £599 fee) available from 5.95% (previously 6.15% with £699 fee).

Finally, for Nationwide borrowers changing mortgage there is an exclusive 5-year fixed rate (no fee) deal available from 5.95% (previously 6.15%).

Maximum LTV is 90% for new borrowers, 95% for existing Nationwide customers.

13 May 2008 © Moneyextra.com

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