7
Jan
Nationwide cuts rates on selected mortgage packages
Nationwide has announced that it is cutting the rates across some
of its tracker and fixed rate mortgage deals.
The building society said that the biggest reductions will be made
on loans in the 70 per cent to 85 per cent loan-to-value (LTV)
bracket.
Some of its two-year fixed rate deals for customers purchasing a
property at 80 per cent LTV will see falls of up to 0.60 per
cent.
Existing customers who are moving house will also be eligible for a
loan at 95 per cent LTV, the lender stated.
Andy McQueen, mortgage director at Nationwide, commented: "We are
making a number of rate cuts across our mortgage range. [...] This,
together with the special offers we have available for first-time
buyers, is good news for those looking to move home."
On January 7th, the Bank of England revealed that it will be
holding the base rate of interest at 0.5 per cent for the 11th
consecutive month.