Quantcast
Menu

News

Nationwide cuts rates on loyalty mortgage scheme

Paula John
Written By:
Paula John
Posted:
Updated:
30/06/2015

From tomorrow (Wednesday 1 July), Nationwide will reduce the cost of some of its fixed rate deals for existing customers by up to 0.15%.

         

The new deals will be available for those who already have a mortgage with the UK’s biggest building society, looking to switch to a different arrangement.

 

The lower rates apply to the Nationwide Loyalty Rate Mortgages initiative, which involves the lender looking at the rates its customers could get from the top six alternative providers in the marketplace, and pricing its offers accordingly.

 

After the changes have been implemented, Nationwide will offer a two-year fixed rate up to 85% loan-to-value (LTV) charged at 3.24% (a reduction of 0.15%) and a two-year fixed rate available up to 90% LTV charged at 3.84% (reduced by 0.1%). These deals come with no fee.

Existing mortgage customers already receive a 0.10% discount compared to the rates charge to new customers and remortgage customers receive a free valuation and the choice between free legal work and a £250 cashback.

 


Tags:
Share: