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Nationwide reduces fixed mortgage rates

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From Wednesday 11 July, Nationwide is reducing the rates on its range of fixed rate mortgages by 0.10%, for loans up to 70% LTV.

The revised rates include a two-year fixed rate available at 3.29%, available up to 60% LTV and a three-year fixed rate at 3.59%, available up to 70% LTV.

Both products come with a £900 product fee and a £99 booking fee for remortgage, house purchase and existing customers moving home. There is a £400 discounted product fee for first-time buyers.

The building society has reduced the rate on its five-year fixed rate to 3.79%, which is available up to 70% LTV. The deal comes with a £450 product fee and a £99 booking fee for remortgage, house purchase and existing customers moving home. There is a £200 discounted product fee for first-time buyers.

The mutual’s Flexclusive fixed rate has been reduced to 3.79% and is available up to 70% LTV. The deal has no product fee attached but comes with a £99 booking fee for both homebuyers and remortgage customers who hold a FlexAccount with the Society as their main current account.

Homebuyers and remortgagors are eligible for a free standard valuation and standard legal fees with this product.

Nationwide added that fixed rates above 70% LTV remain unchanged, while tracker rates remain unchanged up to 70% LTV. Trackers at 75%, 80% and 85% LTV will be increased by 0.10%.

Tracie Pearce, Nationwide head of group mortgages, said: “Our range of fixed rate mortgages has proved particularly popular as customers seek the security of fixing their mortgage payments for the future, and as a result we’re really focused on keeping our rates as competitive as possible.

“Being ‘on your side’ is a long term commitment and reflects not just our competitive headline rates, but our approach to upfront costs and longer term servicing as well – and it’s the whole package that makes a real difference to our customers .”

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