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Nationwide cuts fixed rate mortgages

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The mutual has reduced the cost of a wide range of deals, including its 10-year fixed mortgages
Nationwide cuts fixed rate mortgages

Nationwide Building Society has reduced rates on a range of its two, three and five-year fixed rate mortgages.

The mortgages, which are available to those with 40% equity or deposit, have been cut by up to 0.15 percentage points.

In addition, the lender has cut the cost of its 10-year fixed rate deals by up to 1.10 percentage points.

What’s changing?

Two-year fixed rates available up to 60% LTV are reducing by 0.10% to 1.79% with no fee.

Three-year fixed products up to 60% LTV are reducing by 0.15% to 1.79% with no fee (and by 0.10% to 1.54% with a £999 fee).

Five-year fixed rates available up to 60% LTV are reducing by 0.15% to 1.79% with no fee and to 1.59% with a £999 fee.

Rates on Nationwide’s 10-year fixed rate products are reducing, now starting at 2.34% with a £999 fee up to 60% of the property’s value. There are also fee-free options available.

Henry Jordan, Nationwide’s director of mortgages, said: “Our range of fixed rate mortgages have proved particularly popular as people seek the security of fixing their mortgage payments for the future, and as a result we’re focused on keeping our rates as competitive as possible.

“These reductions clearly demonstrate our commitment to offering competitive products to both existing members and new customers in a range of LTVs. Combine that with our commitment to providing legendary service and we believe we offer the whole package that makes a real difference to homeowners.”

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