Nationwide Building Society has reduced the price of some of its fixed-rate mortgage deals by up to 0.30 per cent, despite the general trend of rising mortgage prices.
From May 16, Nationwide's two-year fixed-rate mortgage
will be available from 5.95 per cent compared with the previous rate of 6.10 per cent, although the fee has risen from £499 to £599. The building society is also offering a two-year fixed-rate with no fee from 6.35 per cent compared with the previous 6.50 per cent rate.
Nationwide has also lowered its five-year fixed-rate deal. The deal, which used to be 6.15 per cent with a £699 fee will be available from 5.85 per cent as of May 16. It is also offering existing Nationwide borrowers a special five-year fixed-rate remortgaging
deal. It will be available from 5.95 per cent compared with the previous rate of 6.15 per cent and will not involve a fee.
Lower-priced remortgaging deals are also being offered to non-Nationwide customers. These include a two-year fixed-rate from 6.15 per cent with a £599 fee compared with the former rate of 6.30 per cent with a £499 fee. A two-year fixed-rate mortgage with no fee is being offered at 6.55 per cent, down from 6.70 per cent. And a five-year fixed-rate with a £599 fee will be available from 5.95 per cent rather than at 6.15 per cent with a £699 fee.
Divisional director for mortgages, Matthew Carter, said: "Recent reductions in money market swap rates mean we are able to reduce the rates on our two-year and five-year fixed-rate mortgages. This is good news for homebuyers, remortgage customers and borrowers who are coming to the end of their existing deals.
"Nationwide continues to offer a range of mortgages up to 95 per cent loan to value, including two recently launched deals which offer first-time buyers a £300 discount on the reservation fee."
The building society is also offering customers a 20 per cent discount when they buy buildings and contents insurance at the same time. In addition, customers can benefit from a 10 per cent discount for buying Nationwide home insurance
over the internet.
The discount is designed to reward customer loyalty as from now until July 31, customers buying their buildings and contents insurance together will receive a 20 per cent discount now and a 20 per cent discount off next year's premium if they renew both policies together.
The benefits of its home insurance package include: unlimited buildings cover for eligible properties; up to £1,000 cover for garden contents; and temporary accommodation costs should the customer's home become uninhabitable due to insured damage. Optional extras include: cover for accidental damage; cover for personal possessions; and legal assistance worth up to £50,000.
Insurance director, Robin Bailey, said: "By opting for Nationwide's home insurance, customers can be sure that they're not only benefiting from excellent customer care, but also being rewarded for their continued loyalty."
© Fair Investment