Nationwide launches lowest 10-year fixed rate mortgage

31 March 2005
Nationwide Building Society has announced what it says is the UK's lowest rate for a ten year fixed rate mortgage.

The new mortgage is available from 5.19 per cent, which is the same as Nationwide's two, three and five year fixed rates.

Nationwide executive director, Stuart Bernau said: "We recognise that many borrowers want the security of knowing how much their mortgage payments will be each month and they don't want to keep switching to a new fixed rate every couple of years.

"Therefore we have launched the ten year fixed rate mortgage to meet the needs of these borrowers who want to prevent future interest rate increases pushing up their payments.

Nationwide added that during the period of the loan, customers are able to over or under pay and take the loan with them should they decide to move.

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