Nationwide Building Society is launching two new two-year fixed rates at 95% loan to value (LTV).
The rates of 4.99% with a £900 product fee and 5.39% with no product fee are for customers using the Society’s Save to Buy scheme or its existing mortgage customers moving home or wishing to switch products.
First time buyers receive a £500 discount on the product fee for all mortgages with a £900 product fee. Existing Nationwide mortgage customers moving home or switching products benefit from an additional 0.10% rate reduction for new applications.
Key details are as follows:
New 4.99% two year fixed rate up to 95% LTV with £900 product fee (4.89% for existing Nationwide mortgage customers)
- First time buyers pay a reduced product fee of £400
- Save to Buy customers could earn a cashback amount of up to £1000, dependent on the level of their savings
- Non-refundable booking fee of £99 is payable on reservation
New 5.39% two year fixed rate up to 95% LTV with no product fee (5.29% for existing Nationwide mortgage customers)
- Save to Buy customers could earn a cashback amount of up to £1000, dependent on the level of their savings
- Non-refundable booking fee of £99 is payable on reservation
Tracie Pearce, head of group mortgages at Nationwide, said: “These new products at 95% LTV are further evidence that Nationwide is strongly committed to playing a leading role in the financing of the housing market, by supporting both first time buyers and home movers.
“We enable homebuyers with smaller deposits to access very competitive rates – nearly one in four of the mortgages we provide are to first time buyers.”
Meanwhile, all other products at 95% LTV will be decreased by 0.3 percentage points.
