Nationwide launches new mortgage rates

10 February 2004
The Nationwide Building Society has unveiled its new range of fixed-rate and tracker mortgage deals.

They include two, three, and five-year fixes from 4.79 per cent, 5.09 per cent and 5.29 per cent; as well as two, three, and five-year trackers from 4.04 per cent, 4.14 per cent and 4.24 per cent.

Nationwide explained that the new tracker rates take into account the change in base rate announced by the Bank of England on February 5th and allow borrowers the additional flexibility to overpay or underpay.

As with previous offers, the building society said, interest is calculated on a daily basis with no MIG or fees for high percentage borrowing.

Additionally, the BMR (Base Mortgage Rate) is guaranteed to be no more than two per cent above the Bank of England base rate.

All existing fixed rate and tracker mortgage products are being withdrawn at the close of play, February 10th with the new rates available from the 11th.