Nationwide fixed rate mortgage reservations fees cut

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Nationwide fixed rate mortgage reservations fees cut

The Nationwide Building Society has announced it is cutting its reservation fee on its five and ten year fixed rate mortgages.

From now the fees will be £199, down from £389, for both the aforementioned Nationwide fixed rate mortgages.

This cut will enable homeowners to fix their monthly mortgage repayments for longer periods of time than previously.

Steve Clode, marketing director at Nationwide said: "Already more people are choosing fixed rate mortgages and they are also choosing to fix their payments over a longer period.

"We see this as an indication that today's borrowers are wanting to plan for tomorrow."

Furthermore, from October 13th, all Nationwide's valuation fees for homebuyers will increase, for the first time in 15 months.

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