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
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy," said Roger Strukhoff, Conference Chair. "DX World Expo has organized these issues along 10 tracks with more than 150 of the world's top speakers coming to Istanbul to help change the world."
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained , Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-securit...