Nationwide announces introduction of new mortgage products

Three-year tracker rate from 3.58% (on mortgage deals up to 60% LTV). Nationwide said its three-year tracker was one of the most competitive in the market. New customers can borrow up to 75% LTV. Existing borrowers who are moving home or switching between products at the end of their current deal can borrow up to 95% LTV. There is a £995 reservation fee (£299 for first-time buyers).

Five-year fixed rate from 4.98% (on mortgage deals up to 60% LTV). New customers can borrow up to 85% LTV. Existing borrowers who are moving home or switching between products at the end of their current deal can borrow up to 95% LTV. Again there is a £995 reservation fee.

As previously announced, Nationwide’s Base Mortgage Rate (BMR) was reduced by 0.50% to 3.00% from 1 March, in line with the Bank of England Base Rate cut last month.

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