25-year Nationwide mortgage 're-introduced'
www.moneynews.co.uk > Mortgages > 25-year Nationwide mortgage 're-introduced'
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Money News |
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25-year Nationwide mortgage 're-introduced'
Thu 12th Jul 2007
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An attractive proposition for first-time buyers in particular, the long-term nature of the product offers the security of fixed monthly repayments at a rate of 6.39 per cent.
For a reservation fee of £599, with existing customers receiving a £100 discount, the consumers who take on the Nationwide mortgage will be allowed to have the flexibility to overpay, underpay and to take payment holidays.
No early repayment charges apply to the packages after the first ten years and no higher lending charges apply to any Nationwide mortgages.
Stuart Bernau, executive director of Nationwide, said: "Our experience is that the 25-year fixed rate has a place in the market and offers long-term stability and flexibility for borrowers who want to protect against fluctuations in interest."
He added: "The re-launch of this product follows a very successful uptake earlier in the year and will allow even more borrowers to benefit from the advantages it offers."
Related News : Mortgages |
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Related News : Nationwide |
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