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Nationwide chops cost of some mortgages

Christina Hoghton
Written By:
Posted:
05/05/2020
Updated:
05/05/2020

The building society has cut rates on its fixed mortgages and launched a new tracker deal

Nationwide Building Society has reduced rates on a range of its mortgage deals.

The lender has cut some mortgage rates by up to 0.35 per cent, as well as launching a new tracker mortgage.

The new deal is a two-year tracker and is available to remortgage borrowers with a stake of at least 40% in their home. It has a rate of 1.29% and comes with a £1,499 fee.

Nationwide fixed rates include a two-year fix of 1.54 per cent up to 80 per cent of the property’s value with a £999 fee, and a five-year fixed option at 1.79 per cent.

Nationwide director of mortgages Henry Jordan, said: “The mortgage market remains really competitive and many borrowers continue to like the security of fixing their mortgage repayments, especially in time of economic uncertainty.

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“These reductions demonstrate our commitment to offering competitive rates across the range of LTVs supporting borrowers no matter how much deposit they have.”