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
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...