Click here to close now.

SYS-CON MEDIA Authors: Eva Belanyiova, tru welu, Blue Box Blog, Kevin Jackson, Peter Silva

News Feed Item

Nationwide Cuts Three-Year Fixed Rate Mortgages to as Low as 2.69%: House Purchase and Remortgage Customers Benefit

LONDON, UNITED KINGDOM -- (Marketwire) -- 01/15/13 -- From Friday 11 January, Nationwide Building Society is reducing its three, four and five year fixed rates by 0.10 per cent.

Tracie Pearce, Nationwide's Head of Group Mortgages, Product & Pricing, said: "We are welcoming in the New Year with some exciting new mortgage rates.

"All customers can benefit from the reductions. It means the introduction of three-year fixed rates at just 2.69 per cent, and five-year fixed rates at 2.99 per cent. Existing customers still get access to our best deals, priced 0.10 per cent below our new rates.

"It comes within days of the Society announcing rate cuts for those looking to buy a new build property and proves Nationwide is truly open for business."

Nationwide's mortgage range now includes:

Three-year fixed rate available for new customers at 2.69% (up to 60% LTV), 2.59% for existing customers

- GBP 900 product fee for house purchase, remortgage and existing customers moving home

- GBP 400 product fee for first-time buyers

- GBP 99 booking fee (payable upfront and non-refundable)

Three-year fixed rate available for new customers at 4.59% (up to 90% LTV), 4.49% for existing customers

- GBP 900 product fee for house purchase, remortgage and existing customers moving home

- GBP 400 product fee for first-time buyers

- GBP 99 booking fee (payable upfront and non-refundable)

Flexclusive(i) four-year fixed rate available for new customers at 2.69% (up to 60% LTV), 2.59% for existing customers

- GBP 900 product fee for house purchase, remortgage and existing customers moving home

- GBP 400 product fee for first-time buyers

- GBP 99 booking fee (payable upfront and non-refundable)

Five-year fixed rate available for new customers at 2.99% (up to 60% LTV), 2.89% for existing customers

- GBP 900 product fee for house purchase, remortgage and existing customers moving home

- GBP 400 product fee for first-time buyers

- GBP 99 booking fee (payable upfront and non-refundable)

Notes to editors

(i) Available to any members who use their Nationwide FlexAccount as their main current account or hold Nationwide's FlexDirect current account.


--  Applications are required for all products. Further details of terms and
    conditions are available on request. 
--  Mortgages are subject to underwriting criteria.  
--  Main FlexAccount customers benefit from exclusive mortgage offers. For
    eligibility criteria:
    http://www.nationwide.co.uk/current_account/account_benefits.htm

Key features of the fixed and tracker mortgage product range for new applications


--  Flexibility: 
    --  Overpayments (no minimum; maximum of GBP 500 per month on fixed and
        tracker mortgage deals). 
    --  Apply for a Further Advance, the additional borrowing facility. 
--  Valuation fee: 
    --  Varies based on purchase price of property and not product chosen. 
    --  Non-refundable for home buyers and home movers. 
    --  No standard valuation fees or standard legal fees for borrowers who
        are remortgaging. 
--  Free legal fees for house purchase cover the conveyancer's professional
    charges relating to the house purchase only when using one of our panel
    legal firms. The customer will be liable for some additional fees
    relating to the disbursements, e.g. Land Registry fees and local
    authority searches. Due to Northern Irish law, Nationwide is unable to
    offer free legal fees for house purchase in Northern Ireland.  
--  Maximum LTV: 
    --  Lending above 85% LTV is available on two, three, four and five-year
        fixed rate mortgages. 
    --  Lending above 90% LTV is available on three, four and five-year
        fixed rate mortgages. 
    --  95% LTV mortgages are available to: 
        --  Existing Nationwide mortgage borrowers switching at the end of
            their current deal or moving home. 
        --  Save to Buy customers. 
        --  NewBuy customers.
    --  90% LTV mortgages are available to: 
        --  Existing Nationwide mortgage borrowers switching at the end of
            their current deal or moving home. 
        --  First-time buyers and home movers.
    --  First-time buyers can access 95% LTV products through Save to Buy
        and NewBuy. 
    --  75% on new build flats and 85% on new build houses (90.01% to 95%
        LTV for approved NewBuy housing providers). 
--  Base Mortgage Rate 
    --  Any mortgage products reserved on or before 29 April 2009 will
        revert to the Base Mortgage Rate (BMR). If the borrower chooses to
        switch to a new Nationwide mortgage product, the new product will
        currently revert onto our Standard Mortgage Rate (SMR). 
    --  Both are variable rates which we may vary in accordance with our
        mortgage terms and conditions. However, the BMR is guaranteed to be
        no more than 2% above the Bank of England base rate, whilst the SMR
        has no upper limit or cap. If the borrower chooses to switch to a
        new product, it is not possible to switch back to the BMR at a later
        date. 
--  Standard Mortgage Rate 
    --  Mortgage products reserved on or after 30 April 2009 revert to the
        Standard Mortgage Rate (SMR).  
    --  The SMR is a variable rate which may vary in accordance with
        Nationwide's mortgage terms and conditions.  
--  All mortgages reserved on or before 3 March 2010 include the option to
    apply for a payment holiday and borrow-back facility. Any mortgages
    reserved after this date will no longer include these facilities. 
--  If the borrower is currently letting their property they will be unable
    to switch to a new mortgage deal and their mortgage will automatically
    revert to the Nationwide variable rate as stated in their mortgage
    offer. 
--  Early repayment charges for fixed rate and tracker mortgages
    Throughout the deal period, a percentage of the outstanding loan is
    payable as detailed below. Overpayments of up to GBP 500 per month are
    permitted without the need to pay an early repayment charge.

    -  Two-year fixed rate mortgage:        3%                              
    -  Three-year fixed rate mortgage:      4%                              
    -  Four-year fixed rate mortgage:       4%                              
    -  Five-year fixed rate mortgage:       5%                              
    -  Two-year tracker rate mortgage:      2.5%                            
    -  Three-year tracker rate mortgage:    3%                              

About Nationwide Building Society

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. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the half year ending September 2011 Nationwide made a strong underlying profit of GBP 172 million - up 17% from the previous year.

Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Find recent press releases and photos at the Nationwide Media Centre: www.nationwide.co.uk/mediacentre.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Akana, a leading provider of API Management, API Security and Cloud Integration solutions, announced that it is introducing DevOps automation to the API lifecycle. New capabilities in Akana's API Management platform significantly reduce the time required to update API definitions and versions. DevOps teams will be able to work faster in designing and developing APIs, as well as managing them at runtime and publishing them to a portal.
IndependenceIT has been selected by nGenx to power Windows-based DaaS and application delivery on Google Compute Engine to support the delivery of GoldMine Cloud software. For independent software vendors (ISVs) like GoldMine, this expands the theater of operations to increase revenue opportunities while reducing software management and maintenance liabilities. IndependenceIT was selected by application and desktop pioneer, nGenx, to deliver its “Bring Your Own Cloud” strategy to GoldMine and o...
The web app is Agile. The REST API is Agile. The testing and planning are Agile. But alas, Data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes which force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software orga...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
2015 predictions circa 1970: houses anticipate our needs and adapt, city infrastructure is citizen and situation aware, office buildings identify and preprocess you. Today smart buildings have no such collective conscience, no shared set of fundamental services to identify, predict and synchronize around us. LiveSpace and M2Mi are changing that. LiveSpace Smart Environment devices deliver over the M2Mi IoT Platform real time presence, awareness and intent analytics as a service to local connecte...
DevOps Summit at Cloud Expo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, @DevOpsSummit sessions at Cloud Expo, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all Containers and Microservi...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are ra...
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, con...
The only place to be Nov 3-5 is Cloud Expo | @ThingsExpo | DevOps Summit 2015 West at the Santa Clara Convention Center in Santa Clara, CA. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT, Big Data and DevOps companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked...
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, will analyze how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining B...
While there are hundreds of public and private cloud hosting providers to choose from, not all clouds are created equal. If you’re seeking to host enterprise-level mission-critical applications, where Cloud Security is a primary concern, WHOA.com is setting new standards for cloud hosting, and has established itself as a major contender in the marketplace. We are constantly seeking ways to innovate and leverage state-of-the-art technologies. In his session at 16th Cloud Expo, Mike Rivera, Seni...
“We are a managed services company. We have taken the key aspects of the cloud and the purposed data center and merged the two together and launched the Purposed Cloud about 18–24 months ago," explained Chetan Patwardhan, CEO of Stratogent, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
SYS-CON Events announced today DevOps.com will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Launched in 2014, DevOps.com has quickly established itself as an indispensable resource for DevOps education and community building. DevOps.com make it their mission to cover all aspects of DevOps – philosophy, tools, business impact, best practices and more.