Nationwide increases fixed mortgage rates

Building society Nationwide has today announced that it is increasing the interest rates on its fixed-rate mortgage range.

The company’s two-year option is available from 4.98 per cent with a fee of £399 or 4.79 per cent with a £699 fee.

Fixed-rate options for three, five and ten years all have a fee of £399 and are available at 5.13, 5.18 and 5.18 per cent respectively.

Steve Clode, divisional director of marketing at Nationwide, said: “Nationwide prides itself on offering some of the best mortgage rates on the high street.

“Money market rates have increased recently and we have found it necessary to follow other lenders that have increased their rates.”

Mr Clode added that the society’s range of mortgages remains “very competitive” and could offer borrowers “significant savings”.

All of Nationwide’s mortgages have flexible underpayment and overpayment features and do not have higher lending charges or fees for high percentage borrowing.