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Nationwide bolsters long-term fixes

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Borrowers looking to fix their mortgage for the next decade can now access discounted rates from Nationwide Building Society.

The mortgage lender will now offer 10-year fixed rate products under 4%, for buyers with a 15% deposit. These deals come with a £999 fee.

Elsewhere in the product range two-, three- and five-year deals have also been cut by up to 0.45%.

For borrowers with a 10% deposit, a two-year fixed rate is available at 2.99% with a £999 fee. At 85% loan-to-value the rate on offer is 2.04%, also with a £999 fee.

Those who hold a Nationwide current account also have access to an exclusive range of products. This includes four-year fixed rate mortgage deals starting at 2.94% for those with a 15% deposit. Cashback offers are also available.

Nationwide last week boosted its first-time buyer range, offering 95% loan-to-value mortgages outside the Help to Buy scheme for the first time since 2008.

Henry Jordan, Nationwide’s head of mortgages, said: “Following the launch of Nationwide’s new range of mortgage products for those with a 5% deposit, we are now reducing rates for those with slightly larger deposits of 10% and 15% who are looking for competitive rates and payment security over the short, medium and longer term.

“First time buyers will also continue to qualify for a £500 cashback irrespective of which product they choose. This is in addition to the benefits available on the flexclusive range of mortgages, including £250 cashback or the option of free valuations and legal fees.”

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