Nationwide: Mortgage rates will be reduced
www.moneynews.co.uk > Mortgages > Nationwide: Mortgage rates will be reduced
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Nationwide: Mortgage rates will be reduced
Thu 7th Feb 2008
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Nationwide mortgage rates will be decreased by 0.25 per cent - bringing them from 6.99 per cent to 6.74 per cent - while savings rates are also being reviewed.
According to Nationwide, the drop in this rate will leave it about 0.50 per cent below the standard variable rates of other major lenders.
In addition, existing tracker mortgages will fall by 0.25 per cent from March 1st 2008.
Those who take out a mortgage with Nationwide at this amended rate could save more than £12,000 on a 25-year home loan, the bank has said.
Nationwide also recently welcomed an announcement from the chancellor which stated plans to encourage more providers to offer longer fixed-rate loans.
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Related News : Nationwide |
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