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Nationwide cuts mortgage rates for third time in 3 months

22 June 2005
Nationwide has cut the cost of mortgage borrowing for the third time in three months, proving its position as one of the most competitive lenders on the High Street.

The new rates, which were made available yesterday, equal significant reductions on some of the lender's most popular mortgage deals.

Fixed rate deals have now fallen to 4.49 per cent for the two year deal, 4.69 per cent for the three year, 4.79 per cent for the five year, and 4.89 per cent for the ten year.

For borrowers who are less concerned with playing it safe, the two year tracker rate has now fallen to 4.74 per cent (previously 4.99 per cent).

"Other lenders might tweak one or two rates to grab headlines," commented Steve Clode, marketing director for Nationwide.

"Once again we've shown our commitment to fairness and value by cutting the cost of borrowing across our full range of fixed rate deals and adjusting our two year tracker to ensure we offer a good choice for new and existing borrowers."

Click here to find out more about mortgage rates.

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