Nationwide mortgage deals announced

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Nationwide mortgage deals announced

From November 20th, two types of Nationwide mortgages will have reduced rates, the building society has announced.

The price of its ten-year fixed-rate mortgage will be cut to 5.68 per cent, while it is also introducing a new two-year fixed-rate product which starts at the same rate.

Nationwide claims that its amended ten-year fixed-rate mortgage has one of the best rates on the high street. This home loan also requires a £499 fee.

Matthew Carter, Nationwide's divisional director for mortgages, commented: "While two-year deals have historically been a favourite with borrowers, competitive fixed-rate deals over a longer-term period are becoming increasingly popular.

"Some customers may be put off by the thought of being tied in for five, ten or even 25 years, but at Nationwide borrowers can move their mortgage to a new house, overpay or underpay during the deal period."

In September, Nationwide launched a five-year fixed-rate mortgage which started at 5.98 per cent.

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