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Nationwide latest in mortgage reshuffle
20 November 2008 16:49
Nationwide has become the latest in a long line of high street lenders to re-jig its fixed-rate mortgage deals.
First up, the building society will be slashing the price of its entire two-year fixed-rate package range by 0.8 per cent, while some of its three and five-year products will receive similar treatment.
Secondly, Nationwide will be withdrawing its ten and 25-year fixed-rate offers from the market. All of these changes will come into force from tomorrow (November 21st).
Matthew Carter, divisional director for mortgages at Nationwide, said that as part of the lender's continued commitment to those trying to get a food on the property ladder, the group would carry on offering its lower reservation charge of £299 on its three-year fixed rate mortgage.
He added that following its cuts, the bank's two-year fixed-rate deal was now one of the most competitive on the high street.
Earlier this month, the building society removed its entire tracker range from the mortgage market. As of now, it says that it has no immediate plans to reintroduce these packages.
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