3Nov
Lender drops mortgage rates
Nationwide has revealed today it is to cut some of its mortgage
rates.
The building society has said it is to cut three of its fixed-rate
deals, all of which have a 60 per cent loan-to-value.
Its two-year fixed-rate deal with a £599 fee will drop from
6.08 per cent to 5.59 per cent, the two-year fixed-rate mortgage
with no fee will be trimmed from 6.48 per cent to 5.99 per cent and
the two-year fixed-rate product with a £999 fee will come down
from 5.93 per cent to 5.49 per cent.
The new rates will be effective from November 1st.
Divisional director for mortgages at Nationwide Matthew Carter
said: "We are pleased to be able to cut the price of some of our
fixed-rate deals."
The demand for mortgages is not just from those who have to move,
new research has suggested.
A Findaproperty.com survey has shown that the most popular reason
for buying a house is to switch from renting to buying, accounting
for 21 per cent of responses.
