Nationwide mortgage rates are cut when others in the market are rising.
Against a background of rates increases, Nationwide mortgage rates and fees for a number of their products were reduced in May. Call Deal Direct for details and a comparison of these products with other offers.
Rates were reduced by for Nationwide's 2 and 5 year fixed rate products following a reduction of fees on their 5 year products earlier in the month. This includes a 5 year deal fixed at 3.89% for mortgages up to 70% loan to value and a 2 year deal fixed at 3.39% for mortgages up to 60% loan to value.
Reports suggest that Nationwide mortgage lending is up by over 40% with around a third of all new mortgages being provided by the building society. With such a large share of the mortgage market the building society may have concerns about the International Monetary Fund suggestion that interest rates could be cut further.
Half of Nationwide mortgage customers are on a base mortgage rate that is guaranteed at a rate of no more than 2% above the Bank of England's base rate. This is one of the lowest rates available as a reversion rate when a fixed period has ended.
For the best offers you may need to act quickly, as lenders are frequently changing product ranges and rates at short notice. For a comparison of Nationwide mortgage rates with the rest of the market, call Deal Direct.
