Nationwide reduces some mortgage rates

Nationwide Building Society annouced a reduction today to some of its fixed rate and tracker mortgage deals which will take effect from 9 July. The new rates put the cost of a two-year fix from 6.58% (with £599 fee) or 6.98% with no fee, while a newly-launched two-year tracker will be available from 5.98% (with a £599 fee) or from 5.78% with a £1,499 fee.

Matthew Carter, divisional director for mortgages at Nationwide, said: "These price changes reinforce our message that, despite tougher market conditions, we remain very much open for business. These changes complement existing competitive three year products with reductions to key fixed rate and tracker deals.

"As with all of our tracker deals, our new tracker deal latest comes with the free facility to switch-and-fix onto any appropriate Nationwide fixed rate at any time during the life of the deal, without incurring an early repayment charge."

04 July 2008 © Moneyextra.com

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