14-05-2008
Nationwide confirms interest rate reduction on fixed-rate mortgage products
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Nationwide Building Society has confirmed details of a cut in the interest rates of a number of its fixed-rate mortgage products.
With the new interest rates earmarked to become available from May 16th, the new rates are to be made available on the building society's two and five-year fixed-rate mortgage products.
"Recent reductions in money market swap rates mean we are able to reduce the rates on our two year and five year fixed rate mortgages," said Matthew Carter, divisional director for mortgages at Nationwide Building Society.
"This is good news for homebuyers, remortgage customers and borrowers who are coming to the end of their existing deals."
These selected mortgages have been given interest rate reductions of up to 0.3 per cent by Nationwide.
Established in 1884, Nationwide merged with Portman Building Society in August 2007 after announcing merger plans in September 2006.