Welcome!

News Feed Item

Nationwide Cuts Three-Year Fixed Rate Mortgages to as Low as 2.69%

House purchase and remortgage customers benefit

LONDON, UNITED KINGDOM -- (Marketwire) -- 01/15/13 -- From Friday 11 January, Nationwide Building Society is reducing its three and five-year fixed rates by 0.10 per cent.

Tracie Pearce, Nationwide's Head of Group Mortgages, Product & Pricing, said: "We are welcoming in the New Year with some exciting new mortgage rates.

"All customers can benefit from the reductions. It means the introduction of three-year fixed rates at just 2.69 per cent, and five-year fixed rates at 2.99 per cent. Existing customers still get access to our best deals, priced 0.10 per cent below our new rates.

"It comes within days of the Society announcing rate cuts for those looking to buy a new build property and proves Nationwide is truly open for business."

Nationwide's mortgage range now includes:

Three-year fixed rate available for new customers at 2.69% (up to 60% LTV), 2.59% for existing customers

- GBP 900 product fee for house purchase, remortgage and existing customers moving home

- GBP 400 product fee for first-time buyers

- GBP 99 booking fee (payable upfront and non-refundable)

Three-year fixed rate available for new customers at 4.59% (up to 90% LTV), 4.49% for existing customers

- GBP 900 product fee for house purchase, remortgage and existing customers moving home

- GBP 400 product fee for first-time buyers

- GBP 99 booking fee (payable upfront and non-refundable)

Five-year fixed rate available for new customers at 2.99% (up to 60% LTV), 2.89% for existing customers

- GBP 900 product fee for house purchase, remortgage and existing customers moving home

- GBP 400 product fee for first-time buyers

- GBP 99 booking fee (payable upfront and non-refundable)

Notes to editors


--  Applications are required for all products. Further details of terms and
    conditions are available on request. 
--  Mortgages are subject to underwriting criteria.  
--  Main FlexAccount customers benefit from exclusive mortgage offers. For
    eligibility criteria:
    http://www.nationwide.co.uk/current_account/account_benefits.htm 

Key features of the fixed and tracker mortgage product range for new applications


--  Flexibility: 
    --  Overpayments (no minimum; maximum of GBP 500 per month on fixed and
        tracker mortgage deals). 
    --  Apply for a Further Advance, the additional borrowing facility. 
--  Valuation fee: 
    --  Varies based on purchase price of property and not product chosen. 
    --  Non-refundable for home buyers and home movers. 
    --  No standard valuation fees or standard legal fees for borrowers who
        are remortgaging. 
--  Free legal fees for house purchase cover the conveyancer's professional
    charges relating to the house purchase only when using one of our panel
    legal firms. The customer will be liable for some additional fees
    relating to the disbursements, e.g. Land Registry fees and local
    authority searches. Due to Northern Irish law, Nationwide is unable to
    offer free legal fees for house purchase in Northern Ireland.  
--  Maximum LTV: 
    --  Lending above 85% LTV is available on two, three, four and five-year
        fixed rate mortgages. 
    --  Lending above 90% LTV is available on three, four and five-year
        fixed rate mortgages. 
    --  95% LTV mortgages are available to: 
        --  Existing Nationwide mortgage borrowers switching at the end of
            their current deal or moving home. 
        --  Save to Buy customers. 
        --  NewBuy customers. 
    --  90% LTV mortgages are available to: 
        --  Existing Nationwide mortgage borrowers switching at the end of
            their current deal or moving home. 
        --  First-time buyers and home movers. 
    --  First-time buyers can access 95% LTV products through Save to Buy
        and NewBuy. 
    --  75% on new build flats and 85% on new build houses (90.01% to 95%
        LTV for approved NewBuy housing providers). 
--  Base Mortgage Rate 
    --  Any mortgage products reserved on or before 29 April 2009 will
        revert to the Base Mortgage Rate (BMR). If the borrower chooses to
        switch to a new Nationwide mortgage product, the new product will
        currently revert onto our Standard Mortgage Rate (SMR). 
    --  Both are variable rates which we may vary in accordance with our
        mortgage terms and conditions. However, the BMR is guaranteed to be
        no more than 2% above the Bank of England base rate, whilst the SMR
        has no upper limit or cap. If the borrower chooses to switch to a
        new product, it is not possible to switch back to the BMR at a later
        date. 
--  Standard Mortgage Rate 
    --  Mortgage products reserved on or after 30 April 2009 revert to the
        Standard Mortgage Rate (SMR).  
    --  The SMR is a variable rate which may vary in accordance with
        Nationwide's mortgage terms and conditions.  
--  All mortgages reserved on or before 3 March 2010 include the option to
    apply for a payment holiday and borrow-back facility. Any mortgages
    reserved after this date will no longer include these facilities. 
--  If the borrower is currently letting their property they will be unable
    to switch to a new mortgage deal and their mortgage will automatically
    revert to the Nationwide variable rate as stated in their mortgage
    offer. 
--  Early repayment charges for fixed rate and tracker mortgages
    Throughout the deal period, a percentage of the outstanding loan is
    payable as detailed below. Overpayments of up to GBP 500 per month are
    permitted without the need to pay an early repayment charge. 

     -  Two-year fixed rate mortgage:        3%                             
     -  Three-year fixed rate mortgage:      4%                             
     -  Four-year fixed rate mortgage:       4%                             
     -  Five-year fixed rate mortgage:       5%                             
     -  Two-year tracker rate mortgage:      2.5%                           
     -  Three-year tracker rate mortgage:    3%                             

About Nationwide Building Society

Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the half year ending September 2011 Nationwide made a strong underlying profit of GBP 172 million - up 17% from the previous year.

Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Find recent press releases and photos at the Nationwide Media Centre: www.nationwide.co.uk/mediacentre.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Interoute has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developers ...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, w...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...