Nationwide moves accounts and mortgages in line with base rate

www.moneynews.co.uk > Banking > Nationwide moves accounts and mortgages in line with base rate

Nationwide moves accounts and mortgages in line with base rate

Tue 10th Jul 2007

Nationwide has announced that it will be increasing its saving rates and its base mortgage rate from August 1st.

The decision by the group follows the Bank of England's raising of the interest rate by a quarter point last Thursday at its monthly meeting.

Nationwide's instant Isa will increase by 0.25 per cent to a maximum of 5.75 per cent, while its monthly income 60+ account and child trust fund will also be increasing by a similar percentage.

Other accounts to experience a rate rise in line with the base rate include the Nationwide regular savings account, while the cash builder account will see a 0.35 per cent increase.

Nationwide has also announced that a number of its mortgage repayment rates will also rise.

Matthew Carter, divisional director of mortgages and savings, said: "Nationwide is committed to providing long-term good value to borrowers and savers through accounts which are simple, straightforward and easy to understand."

"Our members continue to benefit from some of the best mortgage and savings rates available," he added.

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'

Related News : Nationwide
	Nationwide launches new credit card reward scheme
	ICB report recommends easier current account switching
	Mortgages are cheaper than two years ago, claims study
	Students fail to take out insurance 'due to apathy'
	Demand for fixed rate mortgages 'increases in economic uncertainty'
	Nationwide reduces rates on five-year fixed mortgages
	Intermediary mortgage lending 'increases for second quarter'
	Nationwide improves mortgage products for intermediaries
	Nationwide reduces fixed mortgage rates
	NLA survey reveals landlords jittery over possible rate increases