Nationwide mortgage rates altered

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Nationwide mortgage rates altered

Nationwide Building Society has announced that it is to decrease the rates offered on some of its mortgage products.

From tomorrow, Nationwide mortgage rates will be lowered on a number of mortgage deals, although the interest on some mortgages will be increase.

Divisional director for mortgages at Nationwide Matthew Carter stated that this news follows a similar move last month, with cuts made on Nationwide's fixed-rate mortgages.

"As a building society we always aim to offer our members the best possible deals. Following the cuts to base rate over recent months we have passed on the full decreases to our tracker rate and base mortgage rate borrowers," he said.

However, Mr Carter stated that the interest on fixed-rate mortgages will be increasing due to changes in the market.

Last week, Nationwide revealed that house prices dropped by 2.5 per cent during May.
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