From tomorrow, new customers can fix their payments for the next ten years from 3.49%, while existing customers can do the same from just 3.39% as a result of the Society’s established 0.10% loyalty discount. The competitive £999 arrangement fee for new customers reduces to just £499 for first time buyers, making securing certainty for a first home even more affordable. Fee-free options are also available.
Richard Napier, Nationwide’s Director of Mortgages and Savings, said:
“This competitive mortgage range is likely to be particularly attractive to those looking for certainty around their monthly payments over a prolonged period, whether they are first time buyers or those who want to lock in payments against potential future rate increases.
“At Nationwide, we’ve seen significant amounts of customers favouring longer term fixed rate mortgages this year. In September almost a quarter of new reservations were for our five year fixed rate products. Clearly prudent customers want to protect themselves against payment increases and so the introduction of a new ten year fixed rate deal is a logical addition to provide for this trend.”
The 10 year fixed rate deals are:
- 3.49% up to 70% LTV with £999 fee
- 3.94% up to 75% LTV with £999 fee
- 4.54% up to 85% LTV with £999 fee
First time buyers pay a reduced fee of £499.
In addition, Nationwide is re-introducing a three year fixed rate at 90% LTV with a £999 product fee (£499 for first time buyers) at 4.14% for new borrowers, and 4.04% for existing borrowers.
Existing mortgage customers benefit from at least an additional 0.10% discount on all new customer rates.