Nationwide mortgage 'for the long-term'

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Nationwide mortgage 'for the long-term'

Tue 27th Mar 2007

Nationwide has announced that it is launching a new 25-year fixed-rate mortgage.

Starting with a competitive rate of 5.49 per cent, the package allows customers short of spending power in the initial stages of their mortgage term the opportunity to avoid early repayment charges for ten years.

The Nationwide mortgage also possesses flexibility, with customers having the opportunity to overpay, underpay and take payment holidays.

Portability is also a key component of the Nationwide mortgage, with borrowers being permitted to take the package with them when they move home.

With the 25-year term, Nationwide also believes that the package offers security to those consumers who want peace of their mind that their mortgage will not be affected by interest rate fluctuation.

"This is the latest in a series of initiatives that have been designed to complement our existing mortgage product range – from short-term to long-term deals, whether buying a first home or a new home, switching lender or switching deal – we've got something to suit everyone," said Stuart Bernau, Nationwide's executive director.

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