Nationwide cuts fixed mortgage rates

Mortgage lender Nationwide has announced that it is cutting the rates on its range of fixed-rate mortgages, to take effect from September 1st onwards.

Its two-year fixed-rate option with a £699 fee now carries a rate of 4.88 per cent, while the alternative of this package with a £399 fee will now charge 4.97 per cent.

A three-year fixed-rate mortgage is also available with Nationwide, this will now have an interest rate of 5.18 per cent and charges a fee of £399.

For customers interested in taking up a longer deal, the lender offers five and ten-year fixed-rate mortgages. Both of these have an interest rate of 5.18 per cent and a fee of £399.

Steve Clode, divisional director of marketing at Nationwide, said: “Nationwide prides itself on offering some of the best mortgage rates on the high street – all borrowers, whether new or existing, can make significant savings by having their mortgage with the society.”

Fixed-rate mortgages with Nationwide offer customers the facility to overpay or underpay during the deal period and are available to both new and existing borrowers.