BRITAIN’S biggest building society has unveiled some of its lowest ever ¬mortgage deals for first time buyers — ramping up the war between lenders.
Nationwide Building Society is cutting rates on selected two and five-year fixed and two-year tracker mortgages by up to 0.1%.ETTY IGES
Nationwide is cutting rates on selected two and five-year fixed and two-year tracker mortgages by up to 0.1 per cent
For those with a 10 per cent deposit, often first time buyers, its two-year fixed rates have been cut to 2.19 per cent with a £999 fee and 2.59 per cent with no fee.
They are some of the lowest Nationwide rates ever in this range.TTY IMAGES
Santander recently made rate cuts of up to 0.3 per cent.
Nationwide’s Henry Jordan said: “We are making further reductions, with several Nationwide mortgage rates reaching historic lows.”
It comes after Yorkshire Building Society last week launched a 0.89 per cent rate — the lowest on record.3
Henry Jordan said that mortgage rates are reaching historic lows.
Rob’s comments, I am often asked what the rates might do in the future? It is a difficult question but I always have the same response. For the last couple of years, I have not seen the rate of interest go up except for 95% fixed rate loans with a couple of lenders and upon investigation with these banks I was told that the reason for the fixed rates going up was because of the banks’ exposure to this high LTV market. SO, I have no physical evidence that rates will go up soon but these ultra-low rates need to be taken advantage of.