Nationwide Launches New Two Year Fixed Rate Mortgage

Nationwide has a new 90% LTV 2 year fixed rate mortgage that will appeal to first time buyers, homemovers and existing customers.

The new mortgage has an interest rate of 5.29% with a £900 product fee or if you are looking for a mortgage deal with a no product fee this mortgage is available at an interest rate of 5.69%.

If you are a first time buyer there is a £500 product fee discount.

Whichever option you go for there is a £99 booking fee. If you have a greater deposit and therefore have a lower LTV percentage you can benefit from a lower interest rate. For example at 60% LTV the rate is 2.99% with a £900 product fee and £99 booking fee.

Martyn Dyson, head of mortgages at Nationwide, said: “We are continuing our support for the housing market by extending our range of 90% LTV mortgages to now include 2 year fixed rate products.

“It means we offer a comprehensive fixed rate range at 90% LTV including two, three and five year fixed rate deals, offering some of the best low deposit deals currently available.

The Society continues to offer a range of 95% LTV mortgages which are available to first-time buyers through Save to Buy and for existing customers when moving home or switching.”

The five year fixed rate mortgage is available at various levels of LTV, including at 70% LTV an interest rate of 3.59% with the £900 product fee and £99 booking fee.

With these Nationwide mortgages, overpayments of up to £500 per month can be made without incurring any early redemption penalties.

Nationwide is the world’s largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK.