Nationwide reduces rates for lower deposit buyers.

Nationwide has announced that its Save to Buy mortgage rates have been cut to help more small deposit buyers purchase a home.

The lender's 95% LTV Save to Buy rates have been cut by up to 0.70% range wide. The cheap rates now on offer compare favourably to other lenders Help to Buy deals.

With a Save to Buy mortgage borrowers are required to have a savings account with the lender. An account can be opened with a minimum £50 deposit, further deposits of £50 are then required each month for a minimum 6 month period.

After opening an account and saving for the required period of time first time buyers and home movers borrowers can apply for a mortgage, cash back of up to £1,000 is available on Nationwide Save to Buy mortgages.

Save to Buy mortgage highlights include:

• A 2 year fixed rate for 95% LTV at 4.79%.
• A 3 year fixed rate for 95% LTV at 5.19%.
• A 5 year fixed rate for 95% LTV at 5.39%.

Fees are set at £999 for new borrowers and £499 for first time buyers.

Existing Nationwide mortgage customers will receive a 10% discount on the rates offered to new customers.

Existing customers looking for a 95% LTV 5 year fix will also be offered a preferential rate set 0.50% under that offered to new customers. A rate of 5.49% is offered with a £999 fee and 5.69% fee free.

If you are looking for a mortgage and would like a comparison of the most competitive deals offered market wide for your available deposit, speak to an adviser at Deal Direct. 

We work on behalf of our mortgage clients to find the most competitive and affordable products to make home-ownership more affordable. We are 'whole of market' and independent and can compare every lenders range market wide.

For a low rate quote call us today on 0800 048 8828.