Nationwide lowers prices on fixed-rate mortgages

Reductions are being made to a range of fixed-rate mortgages by Nationwide Building Society, it has been announced.

February 17th will see the lender cutting rates on its two, three and five-year fixed home loans by up to 0.2 per cent.

Those looking to remortgage to help with debt management are eligible for the deal, as well as people taking out a mortgage for the first time.

In addition, the building society is introducing new tracker offers, which may be suitable for borrowers seeking a more flexible deal.

“We are increasing our mortgage product range with the re-launch of a two-year tracker and a new three-year tracker for those customers who are looking for a longer term tracker deal,” explained spokesperson Andy McQueen.

It follows the announcement from Leeds Building Society that it is launching a new one-year fixed-rate mortgage product, with sales and marketing director Kim Rebecchi predicting it will be “extremely popular”.

By Jamie Price