Nationwide cuts fixed-rate mortgage prices

Nationwide has announced changes to its range of mortgage products.

Effective from Friday November 21st, the lender reduced the price of some of its two-year fixed-rate products by up to 0.8 per cent, which may be tempting to homeowners who are looking to change their mortgage provider as part of a debt management plan.

However, those looking for a longer-term finance package may be disappointed to hear that the company is withdrawing its ten and 25-year fixed-rate options.

Commenting on the changes, divisional director at Nationwide Matthew Carter noted that the rates are some of “the most competitive on the high street”.

“Existing Nationwide borrowers will continue to have access to a range of fixed rate mortgages available at a reservation fee of only £299,” he added.

Those looking to secure a competitive mortgage rate were recently warned by advisor Al Elliot that they may need to “introduce equity” in order to get the deal they want.

By Tom Musk

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