Home > Loan news archive > Fixed rate home loan changes at Nationwide

Fixed rate home loan changes at Nationwide

24 May 2005

Nationwide has launched the lowest two-year fixed rate deal from any major high street lender.

Nationwide Building Society said the new rates reflected recent movements in the money markets.

The new rates, some of the lowest available, include the two year fixed rate deal which has been reduced from 4.95 to 4.69 per cent.

The three year fixed rate has dropped from 5.09 to 4.89 per cent, while the five year fixed rate, which was previously set at 5.09 per cent, is available from 4.89 per cent.

"Our competitive fixed rate mortgages are now some of the lowest available, which is great news for homebuyers and people looking to remortgage," said Nationwide's executive director, Stuart Bernau.

"For example, in comparison to the Halifax's deals, our two year fixed rate product is now at least 40 basis points lower, saving borrowers a minimum of £556 on a £100,000 mortgage over the two year period."

There is also a ten year fixed rate available from 4.99 per cent - down from 5.09 per cent.

Mr Bernau added that the future also held good news for borrowers: "With Nationwide, borrowers' savings will also continue into the future as our standard variable rate betters the major players in the mortgage market by 75 basis points."